Noonan’s Budget will prolong bank levy beyond 2016

Three-year charge will be extended but rate rise speculation quashed

8th October, 2015

The government is poised to drop a threat to increase the €150 million-euro annual bank levy.

In delivering Tuesday’s budget Finance Minister Michael Noonan is set to signal the charge will remain in force after 2016, extending its original three-year lifespan.

It was reported last month that officials considered doubling the levy to fund tax cuts. However while Michael Noonan warned in May that he would introduce a “penal” charge if banks didn’t cut...

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