Budget 2014: How Dirt hike will be a game-changer for savers

The market for savings has been fundamentally altered by the hikes in deposit interest retention tax (Dirt) of recent years, writes Cliff Taylor.

20th October, 2013

The market for savings has been fundamentally altered by the hikes in deposit interest retention tax (Dirt) of recent years. The high Dirt on savings now provides a huge incentive for savers to move money into untaxed An Post products. This is likely to lead to pressure from the banks on the government to get An Post to cut its savings rates. It could also limit the flow of deposits into the banks, leading to...

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