Oireachtas Joint and Select Committees

Thursday, 30 May 2019

Public Accounts Committee

2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council

9:00 am

Mr. Derek Moran:

I will deal first with the Deputy's question about tax and the disallowance of loss relief. The problem is that to take loss relief from one sector and make it available to everybody would not be sustainable in policy terms. It is less to do with pressure from the banks to retain their loss relief. What we have done is impose a bank levy of €150 million to get something back by way of a contribution, and that is ongoing.