Michael Noonan open to amending law to curtail vulture funds

Finance Minister Michael Noonan is open, conditionally, to amending the law to clamp down on vulture funds.

Speaking in the Dáil, he said phasing out USC will not reduce the tax take and the country can now “afford to remove” the universal charge.

The minister said: “The Government is not committing to reducing the tax take, the Government is committing to reducing tax rates.