Top Issue 1-2024

3 September 2010

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'ATM tax' for bank kidnappings withdrawn

CRITICISM of Justice Minister Dermot Ahern's idea of an 'ATM tax' by banks on customers withdrawing their own money from ATM machines to cover the costs of 'tiger kidnappings' has forced the Fianna Fáil deputy to backtrack

The senior Fianna Fáil figure went public with his idea after the kidnapping of an AIB bank manager’s wife who was held hostage by an armed gang until her husband handed over €300,000 from his branch.

Sinn Féin Finance spokesperson Arthur Morgan TD said the proposal from Minister for Justice Dermot Ahern that there should be an increase in ATM charges in a bid to reduce the number of tiger kidnappings was "ludicrous". Banks should bear the costs of security, not their customers, he said.

“This Government has once again shown its affinity for strangling the domestic economy through the imposition of stealth taxes which will cripple households.

"Minister Ahern’s recommendation for increasing ATM charges reflects the Government’s disregard and indifference to the day-to-day living of ordinary people."

Dermot Ahern later went on RTÉ Radio to claim that he had only wanted to "incentivise" people to use their bank cards more and reduce cash withdrawals.

ENDS

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