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Bank of Ireland on College Green Dublin Niall Carson/PA Wire

Levy on banks of €150 million a year until 2016

Domestic banks will pay the levy totaling €150 million a year for the next three years with each bank to pay based on interest on thier deposits.

THE GOVERNMENT HAS confirmed that domestic banks will be subject to a levy from next year until 2016.

Minister for Finance Michael Noonan said that the levy would raise a total of €150 million from next year for the next three years.

Noonan said that levy will will be on the same basis as the one that yielded over €100 million each year from 2003 to 2005.

In his budget speech this afternoon, Noonan did not provide details on the contribution from each bank but said that the individual levies will be will be broadly based on the amount of tax paid on deposit interest in 2011.

Similar levies are in place in other EU members according to Noonan who says that full details will be made available in the upcoming Finance Bill.

Read: LIVEBLOG: Budget 2014 as it happens >

Poll: Can Irish people learn to trust banks once more? >

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23 Comments
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    Mute shane mullally
    Favourite shane mullally
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    Aug 30th 2013, 9:08 AM

    Looking at that list-wish I stayed in bed!..:-)..

    11
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    Mute Clare Swift
    Favourite Clare Swift
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    Aug 30th 2013, 9:17 AM

    “the secretly general” shhh…it’s a secret ;)

    8
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    Mute Cathal Hogan
    Favourite Cathal Hogan
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    Aug 30th 2013, 9:57 AM

    No. 8 doesn’t refer to a country. I know it’s the US, but it’d be no harm to actually state it.

    7
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    Mute Eric Davies
    Favourite Eric Davies
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    Aug 30th 2013, 12:31 PM

    ” there is no one more sorry than i am” sorry brian your wrong again, theres about 4 million people more ‘sorry’ than you are about irelands economic state. all of them irish citizens, some have lost members of their own families due to suicide , others have seen children and grandchildren leave these shores doubfull if they’ll ever return, people have lost their homes, and are STILL losing them to the greedy banks and financial institutions that YOU protected, there is little or no work for those who have lost their jobs and for those fortunate enough to be still in a job there are ‘extra’ charges and levies that see their income shrink before it hits their pockets. then there are all of those who reley on social welfare, the elderly, the disabled, the 1000′s of families who are struggling to put a decent meal on the table and are already worried sick about the forthcoming budget, fearfull of further cuts and price hikes in electricity and gas prices, fearfull of hikes in ‘carbon taxs’ (remember you introduced them along with your green party pals) pushing up the price of coal or briquettes, wondering if they will have to choose between putting on meal on the table or a fire in the grate.
    but its not all doom and gloom,well not for you and your ilk anyway, you still have your very genorous ‘pension’ and you could always apply for a back to education grant, like you did a while back. its not SORRY you should be feeling brian it’s SHAME .

    6
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    Mute Ken Fallon
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    Aug 31st 2013, 8:58 AM

    eric whats the story with the education grant did he actually apply and get it.

    1
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    Mute Emer Ní Raghallaigh
    Favourite Emer Ní Raghallaigh
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    Aug 30th 2013, 9:16 AM

    What has number 8 got to do with anything?? # strike???

    6
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    Mute conor hickey
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    Aug 30th 2013, 9:09 AM

    I’m sure Cowen can be forgiven.

    5
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    Mute Aine Nibhern
    Favourite Aine Nibhern
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    Aug 30th 2013, 9:25 AM

    FF had policies in place that helped overheat the economy. And when people/economists shouted STOP Bertie told them to go and commit suicide. I wonder how many suicides since then have been connected to the financial crisis? http://www.youtube.com/watch?v=zFBfkusf8R0

    Suicide helpline ~ http://www.1life.ie/

    And another thing, good to see democracy working in the House of Commons last night. As opposed to our crap system.

    24
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    Mute Francis Devenney
    Favourite Francis Devenney
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    Aug 30th 2013, 9:19 AM

    secretly general?

    4
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