Richard Bruton (Dublin North Central, Fine Gael)

What is the basis on which the Minister says this will create many million statements? Are there many million accounts for which no statement is issued from one end of the year to the other? I thought that the standard practice was to issue a statement at frequent intervals, at least annually, generally quarterly and more often monthly. We are not inventing some great administrative burden for banks. To provide one statement per account per year would not be very burdensome for banks. I receive a monthly statement for any account that I have. It may be different for the Minister. Maybe I am imposing some great burden that I never knew I was doing. I would have thought one statement a year per account would hardly be a huge burden on a financial institution.

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