Gerard Craughwell (Independent) | Oireachtas source

As I pointed out on Committee Stage, and as the Minister has pointed out, nobody would buy an insurance policy which they could never draw down. Class K PRSI is just this. It is an insurance policy for which every Member of the Oireachtas, many in the public service and those who have unearned income are forced to pay 4% of their income and they get precisely nothing for it. I ask the Minister to accept the amendment. If he does not do so I ask him to consider immediately after Christmas replacing the class K PRSI with a tax. I am quite happy to pay the 4%, and I am sure those who have unearned income are well able to pay the 4%. If we cannot do it this way, let us do it the other way.