Sir, – The heading on Michael Terry’s letter (March 8th) “Another stealth tax on the elderly?” makes two assumptions: 1. That the subject matter (ie a reduction in the interest paid on State savings) is a tax, which it isn’t and 2. That it only applies to the elderly, which it doesn’t.
I assume Mr Terry is referring to the Four-Year National Solidarity Bond, judging by the interest rate quoted. The maximum allowed by one individual is €250,000. At the start of his letter Mr Terry refers to “people who save the maximum” and at the end intimates that these people are “poor”.
If only I was poor enough to have these problems. – Yours, etc,