ISME fears effects of bank levies
The Irish Small and Medium Enterprises Association is concerned that banks will pass on the full weight of levies imposed in the Budget to vulnerable small business.
The association says: "ISME acknowledges the reasons why the Minister for Finance levied the banks super profits which will re-direct funds into the Exchequer.
"The banks have been making excessive profits for years on the back of consumers and the small business customer."
But the association is concerned that a repeat of events in 1982 will occurr - when ISME says the banks were similarly levied and passed the full cost on to the customer.
The association is now calling on the Government to "closely monitor the banks to ensure that there is no further increase in the cost of banking, particularly in their lending fees.
"The Director of Consumer Affairs should be mandated to refuse all applications for increase in bank charges."
