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Saturday, 14th December 2024 |
| Tier 1 Capital and the need for tax legislation to meet banking needs |
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| The Minister for Finance announced on the 11th February 2009 details of the recapitalisation plan to invest €7 billion in AIB and Bank of Ireland. Mike Hayes briefly examines the plan and the wider issue of the problems faced by domestic banks in raising capital. Critically, the competitive disadvantage that Irish bank’s experience in relation to their foreign counterparts as a result of the denial of a tax deduction for interest on Tier 1 capital is something that the government needs to address as a matter of urgency. |
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