Ireland ‘already has a transaction tax’

Micheal Noonan, the finance minister, is not in favour of introducing a financial transaction tax as the Department of Finance says Ireland already has one — stamp duty.

A spokesperson for the department said Ireland already operates a financial transaction tax at 10 times the rate proposed by the French administration.

“The French proposal for a transaction tax of 0.1% on significant share transactions would appear to be quite similar to a stamp duty on transactions,” the spokesperson said.