Banking

Sinn Féin claims wider bank levy will create ‘level playing field’

The party said that the current rules ‘may cause a competitive disadvantage’ for in-scope banks and create level playing field issues

Mary Lou McDonald, Sinn Féin president. The party said that the future of the levy should be considered in the context of Ireland’s corporation tax rate, which ‘is and will remain competitive by international standards.’ Picture: RollingNews

Sinn Féin has warned that Irish lenders such as AIB and Bank of Ireland risk being put at a competitive disadvantage if the bank levy isn’t extended to other financial institutions.

In a submission to the Department of Finance, Sinn Féin said the government should consider extending the levy to “other financial service providers” as retaining the current scope of the charge could “cause a competitive disadvantage for in-scope banks and create level playing ...