I move Financial Resolution No. 5:
(1) THAT, as respects cash cards (within the meaning assigned by subsection (1) of section 203 of the Finance Act, 1992 (No. 9 of 1992) which are—
(a) included in any statement referred to in subsection (2) of the said section 203, and
(b) valid at any time after the 1st day of February, 1996,
subsection (3) of that section be amended by the substitution of "£5" for "£2" where the due date for the delivery of the statement is after that date.
(2) IT is hereby declared that it is expedient in the public interest that this Resolution shall have statutory effect under the provisions of the Provisional Collection of Taxes Act, 1927 (No. 7 of 1927).
This resolution provides for an increase in the duty charged on ATM cards, that is, automated teller machine cards. It is proposed that the charge of £2 per card be increased to £5. This is the first time the duty has been increased since its introduction in 1992. The increase will apply to all cards valid from 1 February 1996. The additional yield as a result of the increase is expected to be £1.7 million in 1996 and £3.4 million in a full year.