FSU launch pre budget submission

Banking Levy should be retained, extended to new players and funds ringfenced for social good says FSU.

The Financial Services Union (FSU) will today, Wednesday launch their pre-budget submission outside Dail Eireann.

Commenting on the pre-budget  submission John O’Connell, General Secretary of the FSU said :

“The  FSU submission makes the case for the retention of the banking levy, expanding its scope to include new entrants to the banking sector, and ring-fencing its resources for specific community and social initiatives. This  can help to re-establish crucial trust between banks and customers and to help fulfil the critical function the banking sector plays in our lives and our economy fairly, equitably, and effectively.

The submission also calls on the Government to establish a collective bargaining support fund to help support the implementation of the EU Minimum wage directive and the impending good faith bargaining legislation.

The budget is an opportunity for the Minister for Finance to send a strong message that the way to change and improve the culture in the main retail banks is for better decision making through the election of employee and consumers directors on to the board of the banks.

The driving force behind this submission is to help maintain and improve local retail banking services, provide better governance frameworks in our main retail banks, and enable better financial support for staff.”

The main items called for in the submission are :

• Retain and expand the banking levy and ringfence the funds for social good.
• The Government should legislate for board – level representations for employees and consumers in the three retail banks.
• The Government should establish a collective bargaining support fund to help support the implementation of the EU Minimum wage directive and the impending good faith bargaining legislation.
• The FSU propose the Minister for Finance makes it a legal requirement for any employer who wishes to avail of the digital Gaming tax incentive to show they at a minimum pay the living wage, provide secure contracts of direct employment, give proper pension provision and support employer engagement with trade unions.
• The extension of the decision made in last year’s budget that the maximum amount that can be received in one year from the benefit/ voucher scheme to €1,000 tax free and enable it to be made in two payments throughout the year.
• Tax relief to be introduced for trade union subscriptions.
• The €3.20 per day home working allowance should be dramatically increased to take account of the rising cost of home heating, electricity, broadband, insurance, and other ancillary items. The method required to claim the tax relief should be simplified to encourage greater take up.

ENDS

To download or read our Pre Budget Submission click here