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Last days for pension levy.

THE scrapping of the "grossly inequitable" pension levy was hailed last night.

The Professional Insurance Brokers Association said it was a positive step forward as the levy unfairly targeted private sector workers.

The remaining 0.15% levy will be scrapped from next year.

A PIBA spokesman said: "[It's a] relief since it was a grossly inequitable tax on the pensions savings of private sector workers primarily."

Meanwhile, the bank levy will be extended to 2021 to raise [euro]750million for the Exchequer but a review would take place of the methodology used.

The tax, which brings in [euro]150million a year, was introduced to allow banks to contribute to the economic recovery.

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Publication:The Mirror (London, England)
Date:Oct 14, 2015
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