Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

I understand that the NTMA will be changing the rates for the national solidarity bond in the near future. The Post Office Savings Bank annual interest payment is subject to DIRT. The State saving products have traditionally been tax free. Other countries, including the UK, offer similar tax-free products. To obtain the tax-free rates from An Post and the NTMA the money must be left on deposit for a long time. The disadvantage for people moving their savings to An Post to avail of the higher interest rate is that they would not have access to those savings.