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THE CENTRAL BANK has approved eight increases in charges, or new charges, since the introduction of the bank levy last October.
That’s according to Sinn Féin finance spokesperson, Pearse Doherty, who has released figures obtained from the Minister of Finance today on the issue.
He says that the banks have “passed on” the levy to consumers.
Deputy Doherty has also released an extract of a Freedom of Information request on the issue. This email shows, he says, “that while officials considered amending the levy to prevent covered institutions passing on the levy, this did not form part of the final legislation”.
Can’t read this extract properly? Click here.
Deputy Doherty said:
I am disappointed but not surprised that the banks seem to have simply passed on the bank levy to customers. This levy was justified on the basis that the banks should be contributing more to economic recovery. It seems the banks disagree and once more the government has failed to stand up to them.
Charges
He said that the Central Bank can refuse an application from a bank for some increases or new charge.
“Since the Budget in October of last year which brought in this levy it has approved seven full applications and partially approved one application for hikes in charges,” he said.
Doherty accused the Minister for Finance, Michael Noonan, as having “once again simply let the banks off the hook”.
Minister Noonan cannot provide details of each application approved by the Central Bank, as he does not have a role in approving or rejecting such charges.
The bank levy was slated to raise €150 million from this year until 2016 for Irish domestic banks.
The levies for each individual institution are broadly based on the amount of tax paid on deposit interest in 2011.
Bank of Ireland, for example, estimated that the levy will cost it €40 million a year.
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Just get your wages direct I the credit union…stop the flow of cash to the banks. Fcuk them
Except the Credit Unions look like they could be next in line for trouble.
And their services are pretty limited. No online, not enough ATMs, no cheque books. Even direct debits and standing orders are pretty difficult to set up. I’d switch in the morning if they were up to speed
The lid will be blown off that soon too I guess but for now it works.
Plus if the banks fail after all the taxpayers money that’s been pumped into them, what happens then? Another bailout? It’s in our best interest for banks to thrive
Why?
like newbridge credit union in the middle of the night
Bass credit union would appear to have shadows over it too ;)
Naas*
This is called the “Too Big To Fail” theory of free market capitalism.
It’s free market until it’s going broke, then I have to pay for its “mistakes” (which is to say, the theft of our money by the oligarchy).
Hardly a surprise that the regulator (Central Bank) agrees with all bank requests as we saw during and before the crash it’s a useless organisation that kowtows to all the banks requirements.
Kerry, do you want the bailout back or not?
How else are the banks going to return to profit? Free banking?
The bailout will never be paid back. The Irish banks will never regain the value that the Irish government bought their shares at.
Maybe not, but you agree that the bank should be paying some sort of levy to the government, right?
I mean, if they paid nothing you’d be complaining aswell also wouldn’t you?
The banks have to get back to profitability in order to pay the levy, and if they charge they will get back there sooner.
Pierce our hero! Another “populist” discovery ! Let’s see where this ends up……
I will take that as an endorsement of SF, comrade Toner.
Some of the comments here just show how utterly stupid we, the Irish people can be.
Sinn Fein comes out with this today and the reaction is “We cant all rob banks”. It is not the first time and it will not be the last where good ideas and good opinions come from SF or even FF and instead of looking and discussing the ideas in hand, the Irish People bring up the past. We will get nowhere if we dont start discussing the ideas that SF and FF come up with.
I would contend that if you think that that the banks can repay their bailout without abolishing free banking then maybe it is you that is stupid.
Didn’t take long to revert did it.
Can’t resist having a swipe at the poster and not the post….
Mike, if you’ll read the whole comment thread you will see he attacked me first by referring to me as stupid.
What Pearse Doherty is saying here is such populist nonsense. Of course the banks are charging their customers – They owe the Government a couple of billion!
Where exactly do people expect the money to be paid back from?
Shall we say, former Executive’s pensions? Bank Staff? Depositors? Or whatever is popular this week…
FF ideas a you having a fu-king laugh ..
@banking bad
The banks don’t owe the government anything; they owe us the taxpayers billions, the last 5 years and our futures back
Accountability requires us not to forget the past. If we had accountability then maybe FF wouldn’t have gotten so bold and brazen.
I for one will never forget the Northern Bank robbery. If we forget the past without holding people responsible then we’ll forever be gombeens.
Pilib if only it was that easy we could all look forward to a better future. SF are no different than the other parties, Doherty has been guilty of sprouting out “pie in the sky populist polices that don’t add up”. This latest outburst shows just how selective he can be! Ff FG SF all play around with the figures but the bottom line is the same! Don’t let any one of them fool you, remember it was just before Xmas when the same Doherty made a drama filled statement about some new documents that had been discovered ………
Spot on Banking bad this is just another populist half statement , people like Mike don’t understand the bigger picture…any wonder?
“People like mike don’t understand”
What a load of total boll0x.
We are the People that were supposed to have to support and pay for other peoples greed.
I have never borrowed a cent but me and the likes of me are paying through the nose for smug bastwards that like nothing better than to hide behind false names and accounts to spread your verbal slurry.
GGF!!!
Poor Mike I must have hit a sensitive spot……it’s ok not to understand the bigger issues and the Full story and not just the headline, there’s no shame in that, have a little rest & you’ll be grand
I know we cannot forget the past and FF have to be held accountable. They are still and will always be apart of Irish life. Therefore if they come up with good ideas they should be listened too. I personally wouldn’t vote for them but I will listen and if needs be look at their ideas based on merit, not let past stop anything that could be good for this country.
You can listen to their ideas but also campaign that they be held accountable for their disgraceful behaviour.
This rot started with Haughey. People ignored his corruption because of a few good ideas. Bertie Ahern would not have gotten away with his brown envelope “won-it-on-the-horses” nonsense if we had stood up to FF during Haughey’s era.
It’s not too late to stand up for corruption. The bad guys need to be punished and removed forever.
John I agree we should never forget & yes the bad guys should be punished & banished… Can we also include all the parties with dubious pasts?
Hmmmm, so you and your fellow smug buddies have a “hit a raw nerve”competition going.
Well I really hate to disappoint you and your sad ilk but the only way you will hit a nerve with me would be if you grew a pair and posted under your real name.
That would give us all a good laugh.
If trying to hit raw nerves and making snide comments on a public forum is what turns you on then knock yourself out.
You think it would be funny if we posted under our real names?
Whats wrong with your sense of humour and how do we fix it?
Mike you make snide comments all the time but in true bully style you can’t hack it when it’s fired straight back at you! Your not doing your “comrades” any favours!
At least I have the balls to do so in my own name and don’t need to cower behind a pseudonym.
Now tell me which “comrades” would you be mouthing about.
Would it be the last shower of liars I voted for or perhaps the the shower I voted for before them.
Seeing as you seem to know everything about everyone .
Mike, what difference does it make to your life if you know his or my name?
Do you think anyone will give you a medal for posting in your own name?
And exactly how is arguing with me over the internet indicating that you have balls?
How do we know you’re Mike Clinton? You could be just somebody who’s thrown their rattler out of the pram! Well that’s what you sound like anyway “mikey”!
We don’t tolerate name calling, here, you jackass.
As shocking as it is , there should be no surprise unfortunately .
What a shocking discovery.
Sinn Féin know all about bank jobs and hikes, alright.
Seanie, they’re just outraged that Northern Bank/Danske are gone now.
Better than them killing Guards.
Don’t forget Gerry McCabe this May.
Are you shitting in the woods in that photo mate?
just the expression on your face seems to suggests this .
Lets face it the country is f*cked thanks to the party you worship daily on this site and also FG of to screw us from europe now Kenny and turn coat gilmore Labour party,an your there biggest spin doctor ever…
would you have the bottle to go around knocking on doors for support for your party? if that is your real picture I for one and most journo readers would love to see you canvas at my door for your party of thieving toffee nose p*i*ks
SF are getting my vote.. no messing with Mary Lou she puts them on the spot in the Dail
Jim stop taking the piss.
Good ould Seanie – the almost professional FF Troll – does a pot•kettle• black , comedy act – his Party of the Bank Meltdown and Economic Meltdown !!!
She’s just a mouthpiece placed there to create noise. Gerry Adams’ gilly.
There will be no more shopping for Cheerios in Superquinn for Mary Loo Roll when the glorious leader becomes President of the new Republic….the equal nation will dine collectively on raw pratai as we work the collective farms…true impoverished Gaels….hail the glorious revolution….hail Gurry the Great….
Kluklukoklan – you are such a comedian!
Just watch the space fill in the May Locals – your FG and Stickie Labour Party and you will be so deflated after !
Blah blah blah……
Hey Carraioch, I am not a supporter of any party, I am what would be classed as a floating voter. SF will get their usual quota, probably less in my opinion…populist policies with zero substance, the electorate can see through their manure…
Seanie..Im sure there will be forums in May or elsewhere for you to discuss that topic in if you are so driven by it.
This forum and article is about Bank levies and consumer protection/lack of protection…so off you go to try hijack another poltical forum somewhere like a good little FG lackie that you are
Or Nigel, maybe it is about a member of an obscure political party attempting to break into the big leagues by saying what the public wants to hear.
Maybe it’s about that.
I think criticism of Sinn Fein on this thread is perfectly appropriate.
You are a tool Seanie
Why would anyone expect anything different. I’m actually surprised this is news.
Country makes business more expensive to do, business puts up price to protect margin.
It was a stupid way of trying to make the banks pay. It was an ill thought out, knee jerk, populist reaction by the govt.
Back to the drawing board for them it seems.
This is what happens when you want more regulations.
Forcing people to do something never works, just ask a 4 year old — even they know that
Just how exactly did Sinn Fein expect banks to make the money back?
We cant all rob banks…
Banking bad. 1 follower. Just set up to comment on the journal. Troll much
Methinks Rodgers has set up a new profile..
Isn’t it nice to see the ff/fg/lab trolls out to vent their anal passages and protect their gods.
Les, Mike, it’s very easy to denounce me as a troll. Why am I required to reveal my identity to you? Or anyone for that matter? The internet is a place full of weird people my friends. So no thanks.
As you said Mike, why not adress my comment rather than a personal attack? And hell no Im not Rodgers. But I sure as hell dont have any time for Sinn Fein
Youre certainly a microcosm of that same internet then ‘banking bad’. Youre nameless and faceless persona only serves to underline the irrelevance of your comments and their lack of belonging to absolutely nobody.
Irrelavence?
Nigel, please see below:
http://www.theguardian.com/politics/2010/dec/12/wikileaks-sinn-fein-northern-bank
Two more years of crooked Banking rule and we’ll see how any sane self respecting aware people feel come election time. Until then the Fianna Fail made Fine Gael endorsed looting of the Irish country and people continues.
Pissing on the citizens is the national sport of the elite set in this sh1thole of a country
Why is this pleb the financial spokesman for Sinn Fein?? Just look up his qualifications!!!! He isn’t a financial expert at all but gets so much air time. Is he was running our department of finance it would be a joke!!!
Dogg – are you qualified to bark ?
Dogg with a trolls head on it
Judging from your posts I bet you are a female dogg or bitch is the proper name
SF will get my vote, now go eat your own shit dogg!
Is kenny qualified to be taoiseach dogg?? He was a teacher last time i checked. How many of the current or former ministers were qualified in their brief? You think the department (which loses letters) isnt already a joke??
He is qualified. He was elected.
Any negative comments about SF is answered by a mob of SF red thumbers ( they call it debate!)
Oop’s some one just hit a raw nerve…..all the boys are coming out of the woods with their red thumbs in the air!
Better than getting a glock in the kneecap though Toner.
Pearse doherty was elected too.
Wasn’t elected Taoiseach. So Enda is automatically far more appealing to the voters than Pearce.
I can’t believe anyone is surprised by this. Where did they think the money was going to come from?
The people on the Journal love being outraged. It’s the online version of Joe Duffy.
Pearse – please ask for a referendum on the Pylons. It would help the SF cause. Our last Government could arrange a bank Bailout in 24 hours so why not organise a referendum in a few weeks even a months time. It’s a yes or no vote.
noonan is only interested in protecting bondholders and bakers salaries…so no surprise he sits on his hands when it comes to the electorate…
So the government knew the levy would be passed on. Which meant they were clued in and alert. Fair play to them.
have your say