Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

I move amendment No. 60:

In page 39, line 19, to delete “41 per cent” and substitute “36 per cent”.

I apologise for my cough, which, I hope, will clear up as the day goes on.

This amendment replaces the intended increase in DIRT, which the Minister intends to increase to 41% and applies a more modest increase to 36%. While the banks may be in a better position in terms of deposits than they were a number of years ago, we will still have a real problem if DIRT is to be hiked up to the level the Minister intends as well as applying it to special term accounts. Our banks need as much money in deposits as they can get. Post office accounts and other non-DIRT products are now far more attractive. I believe DIRT can be raised as we proposed in the alternative budget we presented to the Minister. We proposed a rate of 36%, which would bring the more frequent rate up to the less frequent percentage rate and this amendment would give effect to that modest increase and not the eight-percentage point increase the Government proposes.