Ernst & Young concerned about Dirt rise

Financial services firm Ernst & Young have expressed concern over the Government's move to increase Deposit Interest Retention Tax (Dirt) from 27% to 30%.

David Fennell, Tax Director with the firm said: "While the 3% increase in DIRT is designed to incentivise savers to spend more, it may instead be the final straw that motivates already nervous depositors to remove deposits from the Irish banking system."