'Arbitrary' new bank levy to raise €200m following surge in profits among Irish banks

Speaking as part of Budget 2024, Finance Minister, Michael McGrath said it was important that the banking sector continued to make a contribution to the Irish economy

Minister for Finance Michael McGrath TD & Minister for Public Expenditure, National Development Plan Delivery and Reform, Paschal Donohoe TD during Budget 2024 at Government Buildings, Dublin.

The Banking and Payments Federation Ireland (BPFI) has hit out at the "arbitrary" nature of the revised bank levy announced as part of Budget 2024, which will raise €200m next year.

Speaking in the Dáil, Finance Minister, Michael McGrath said it was important that the banking sector continued to make a contribution to the Irish economy, following the support it received during the financial crisis.