The European Commission has told the Irish government to drop its ban on its own citizens buying prize bonds, or premium bonds, in other EU member states. This follows a complaint made to the EU against the Irish government’s policy by an Irish woman, Helen Mc Cumiskey.
The Irish Government had justified the ban on the dishonest basis that it was protecting its citizens from exploitation by unscrupulous foreign lottery operators - despite the fact that other prize bond-type investments (such as the British premium bonds) are State-guaranteed savings schemes where money is invested and not gambled, as is the case in a lottery.
The Irish government will have to amend its Lotteries and Gaming Act legislation this month. It means that Irish savers will have more choice, which will negatively impact on the Irish prize bonds scheme which is distinctly less generous than its British premium bonds equivalent.
Bravo for the EU. Now could they please force our Government to scrap its scandalous Vehicle Registration Tax (VRT), which means we have to pay up to 40% more for our cars than people in other EU countries?*
*See more on this here
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4 comments:
"The Irish Government had justified the ban on the dishonest basis that it was protecting its citizens from exploitation by unscrupulous foreign lottery operators "
As opposed to exploitation by unscrupulous domestic lottery operators ???
Yes... they're not so good at "protecting" us from our own sharks, are they?
when can we actually start buying the premium bonds? they were supposed to be amending the act in september 2008??
Yes, as far as I am aware they should have enabled the legislation in September. Have you tried contacting the Premium Bond people directly?
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