Bank levy should rise over interest hikes not being passed to savers – TD

Several hikes in interest rates, imposed in order to help tame inflation, are putting pressure on mortgage holders in Ireland (PA)

The chair of the Oireachtas finance committee has suggested that the bank levy should be increased as a threat to the banks for not passing on interest rate hikes to savers fast enough.

It comes after Minister for Further and Higher Education Simon Harris criticised Irish banks as being “utter laggards” in introducing higher interest rates to people’s savings deposits when compared to other countries.