Minister hits out at financial institutions as he welcomes plan to extend bank levy into 2024
In remarks to the Business Post Mr McGrath said it was his intention to recommend to Government that the levy – due to expire this year – be extended into 2024. He said the details like the scope of the levy, its rate and duration “require further consideration and this work is ongoing as part of the budgetary process”.
Mr Harris, the Minister for Higher Education, said on Sunday: “it would have been pretty ludicrous to allow the bank levy expire this year because of the very serious situation that we see in terms of inflation, the cost-of-living crisis and, quite frankly, in terms of people in this country feeling they’re getting fleeced by certain financial institutions”.
He said that mortgage interest rates have increased at the same time that savers were not benefiting from the interest rate hikes. It is “offensive” for Irish banks “to be complete and utter laggards when it comes to passing on the benefits to those who have money on deposit in relation to interest rates”.
Mr Harris also signalled that last year’s once-off reduction in third-level fees and an extra payment for students in receipt of maintenance grants would be considered again in talks leading up to the budget. The student contribution fee was cut from €3,000 to €2,000 last year as a once-off cost-of-living measure, while those in receipt of grants got an extra €679 payment in 2022.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Irish Fans React As Elle Magazine Declare It To Be 'Hot Irish Guy Summer' | Stellar'It’s always Hot Irish Guy summer in my house.'
Read more »
David McWilliams: Irish banks are at it again, cheating savers out of their moneyOur banks are the most rapacious in Europe when it comes to lending and borrowing. The solution is obvious
Read more »
Harris: Government will not stand for 'thuggery' in Dublin'Ireland is known for being a country of Céad Milé Failte. It is a stain and huge difficulty when this happens.'
Read more »
Simon Harris defends Fine Gael’s record on cracking down on crime in DublinRecent violent incidents have brought a renewed focus on the safety of the capital’s streets
Read more »
The Irish Times view on Ireland in data: economic progress but social deficitsThe latest CSO compendium shows a rising population and economic progress, but prices are high and services and infrastructure lag behind
Read more »
Renault agrees deal to sell its Irish distribution business to owner of Nissan IrelandThe French car giant will sell its Irish distribution business for an undisclosed sum to Cedar Ireland Automotive Ltd - a Kuwait-based company
Read more »