The Government's new Special Savings Scheme will use up to £1 billion of taxpayers' money to make the wealthy even wealthier, the High Court was told yesterday.
The money would be better spent on badly needed health and education services, said Mr Denis Riordan, a lecturer, of Redgate, Limerick, who described the scheme as "unfair and unjust" and an "invidious form of discrimination".
He asked the court's permission to take proceedings challenging Section 33 of the Finance Act 2001. In submissions, Mr Riordan said the Government was proposing to give £1 for every £4 saved by a person under the savings scheme, provided the money was left untouched for five years. People could save a minimum of £10 and a maximum of £200 per month.
There are people who can't get chemotherapy at present, he said. The savings scheme would cost about £1 billion and this was effectively to provide bonuses to people who could afford to save money.
