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Over in The Sunday Times, veteran pensions watcher Jill Kerby has already moved on to the possible implications for other savings and describes Government “black propaganda” on the issue as Orwellian.

“Big Brother politicians and civil service mandarins, whose pensions would cost up to €2.3m on the open market, have arranged to exempt themselves from paying a cent of the levy,” she writes.

“The government has crossed a dangerous line by targeting private savings … if the government can get away from stealing nearly €2 billion over four years from pension savings to fund what it claims is a good cause, it won’t have too many qualms about stealing another €2 billion from savings in banks and credit unions when the next good cause comes along.”

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