Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I agree. This is why I am not sitting in front of the committee with a proposal for a 100% industry funding of the levy. I agree with the Deputy’s point. All Deputies share his view that this sector is uniquely different to other parts of the broad financial sector in our economy. That is why we have a target of the credit unions being levied at half the rate of some of the sectors to which the Deputy compared them. I know there is a difference and that is a reason for the difference in how the levy will be funded. I have recognised that in what I have done. The impending arrival of this change has been well flagged. If it would be helpful, I can go through how this has been flagged again. This change was well flagged to the sector. In recognition of their nature, it is why they are moving to a 50% model and not a 100% model.