Oireachtas Joint and Select Committees

Wednesday, 20 September 2023

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Banking Issues: Central Bank

Photo of Peadar TóibínPeadar Tóibín (Meath West, Aontú) | Oireachtas source

I will be quick because I have to run to the Chamber shortly. The major issue in taxation is revenue collection, although economic justice is also relevant, to ensure all aspects of society pay a fair contribution in respect of the profits they make. Some of the issues around the differential between interest rates could be resolved if there was proper competition in the sector. One of the biggest failings of current Government policy is the fact that there is no real plan to increase competition in what is a duopoly. Two pillar banks have the vast majority of the market between them and, as a result, normal competition dynamics do not exist for many people, both lenders and deposit holders. That could be resolved with improved competition in the sector.

The last question I have-----

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