Simon Harris (Wicklow, Fine Gael)

The advice available to me is that the proposed amendment would possibly have a negative effect on consumers. I accept that is not Deputy Doherty's intent but there is the probability of an increased cost base for the banks, which would be passed on to consumers in the form of higher fees and interest rates on loans or lower deposit rates. Therefore, our view, as per the advice available to me, is that the effect of this, albeit inadvertent, would be negative for consumers in Ireland. That is not something I want to do.

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