Stock Take

Lorcan Allen: Banks quids in despite poor mouthing over doubling of levy

The banking industry body complained that the doubling of the levy risks Ireland’s ‘stable tax regime’ reputation but the reality is that Irish banks are among the biggest winners from Budget 2024

From a banking perspective, the government supports in the budget for households will help people absorb the impact of rising interest rates, which is good for the stability of banks’ mortgage loan book

The Irish banks and Pearse Doherty shared a rare moment of agreement last week where they were all singing from the one hymn sheet and taking aim at the government.

Just as the Sinn Féin finance spokesman was taking to his feet in the Dáil to attack the government’s €14 billion budget, the banking industry issued a short statement criticising Michael McGrath, the Minister for Finance, over his decision to more than double the banking ...