‘Rottweiler’ savages bank deposit levy

PTSB investor Martin Hughes warns of ‘unfairly penalising smaller players’

5th February, 2017
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Permanent TSB’s third biggest shareholder has hit out at the government’s bank deposit levy as anti-competitive and damaging to savers.

Toscafund Asset Management, controlled by financier Martin Hughes – who is also known as The Rottweiler – wrote to the Department of Finance to criticise the way the levy was calculated.

His fund owns 3.5 per cent of Permanent TSB, and he is also an investor in the bank’s debt.

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