Tommy Broughan (Dublin North East, Labour)
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Question 104: To ask the Tánaiste and Minister for Finance if he has reviewed the position of older people allowed to avail of free banking without charges and fees by a number of banks in view of the fact that such people still have to pay the €40 stamp duty on credit and laser cards and ATM facilities; if he has reviewed the matter; the estimated revenue received from such older people; and the cost to the State of foregoing the €40 charge for older people. [23669/07]

Brian Cowen (Laois-Offaly, Fianna Fail)
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The stamp duty on cheques, bills of exchange and promissory notes has existed for many years. When electronic means of money transfers were subsequently introduced, stamp duty was gradually extended to these products to ensure that the stamp duty from cheques was not eroded.

The current annual rates of stamp duty are as follows:

The stamp duty applies irrespective of the volume of bank transactions made.

As the stamp duty is paid by the Financial Institutions and is based on the aggregate number of (a) credit card/charge card accounts and (b) debit/ATM cards, it is not possible to identify the revenue that is received in respect of older people.