Bloomberg News

Noonan Says Financial Transaction Tax of Concern for Ireland

December 14, 2011

Dec. 14 (Bloomberg) -- Irish Finance Minister Michael Noonan said calls for a financial transaction tax would put Dublin at a disadvantage if it did not apply to the EU’s 27 member states, including the U.K.

While the “best position” for Ireland would be if a financial transactions tax was introduced at a global level under the umbrella of the G-20, that doesn’t look likely, said Noonan at an event in Bloomberg’s offices in London today. Ireland is “prepared to talk on the tax” on the basis of it being applied to all 27 EU members.

Noonan said it remains to be seen on what instruments and activities any such tax might apply, though “obviously there would be a disadvantage to Ireland if it applied to Dublin and didn’t apply to London,” he said. “It’s obviously a matter of concern and interest for Ireland.”

To contact the reporter on this story: Joe Brennan in Dublin at jbrennan29@bloomberg.net

To contact the editor responsible for this story: Finbarr Flynn at fflynn3@bloomberg.net


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