Savers may see returns cut as banks hit by higher Dirt tax

Savers, already struggling with historically low interest rates, are in danger of seeing their returns clipped even further as the government is set to almost triple the rate of Dirt tax on banks.

The move is designed to ensure the government still collects €150 million from banks in a levy each year.

The state has levied the financial institutions based on how much Dirt tax they pay out to savers. But to reflect ...