interesting article in Sunday Times today. Department of Finance don’t believe there is any reason to reduce exit tax.
Reasons being (paraphrasing).
No evidence that it is deterring investors from taking out insurance contracts
Investment performance has been poor so no gains anyway(!)
Insurance cos, brokers etc get fees anyway. (I think the implication is that regardless of investment returns insurance co and fund managers etc get fees whereas govt only gets something if there is a gain)
It shouldn’t move in line with dirt as deposits and investment funds are different animals.
Reasons being (paraphrasing).
No evidence that it is deterring investors from taking out insurance contracts
Investment performance has been poor so no gains anyway(!)
Insurance cos, brokers etc get fees anyway. (I think the implication is that regardless of investment returns insurance co and fund managers etc get fees whereas govt only gets something if there is a gain)
It shouldn’t move in line with dirt as deposits and investment funds are different animals.