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

Last Thursday, I asked the Tánaiste about the industry funding levy for credit unions. I mean no disrespect to him because, in fairness to him, he always tries to answer the questions correctly but I did not get a correct answer. The information I have received from the horse's mouth is that there has been no consultation with the credit unions on this issue since 2015. Prior to that, the last consultation was in 2012. This levy will be increased to 50%, raising the amount paid from €1.8 million to €8 million over a number of years. There are already five levies on credit unions. I do not know how many people realise that. We cannot underestimate the benefits of the credit unions and the social role they play in society. If some of the levies could be got rid of and this one brought in over ten years, this would be acceptable to the credit unions.

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