Taxation on savings

Sir, – The ECB benchmark rate is now at 0.25 per cent and heading south (Front page, November 8th).

With his new Dirt rate of 41 per cent and the levying of PRSI on deposit interest, the Minister for Finance will soon come to realise that 45 per cent of nothing is nothing.

The mattress may make a comeback. – Yours, etc,

PD DOYLE,

Clontarf Road,

Dublin 3.