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

It is worth emphasising again that the money that will be brought in next year by the bank levy is not money that was included in our budgetary forecast for next year. It is not a reduction in forecast revenue. We were not expecting to collect it because the tax was due to come to an end this year before I made the decision to extend it. I am doing this to minimise the considerable disruption that I believe will happen, from a consumer perspective, throughout 2022. It was my view that if I overlaid the large amount of change that will happen in Irish banking throughout next year with the extension of this levy, it could create further challenges that could be disadvantageous to customers. That is why I have made the decision.