Eugene Murphy (Roscommon-Galway, Fianna Fail) | Oireachtas source

I have had strong lobbying on this issue from people in the credit union business. This levy will go up to 50% for the credit unions and they tell me it is going to cost them millions. It will certainly affect credit going to people who need it.

Credit unions are community-based, helpful financial organisations. Deputy Fiona O'Loughlin is right that, last week, with the stroke of a pen, the Minister, Deputy Donohoe, changed that. The Government will argue that the banks are paying 100% but my argument is that credit unions are not the same as commercial banks. They play a very important role in our society. I am asking that the Minister for Finance reverse this change because there will be serious consequences down the line, particularly for poor people.

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