Oireachtas Joint and Select Committees

Wednesday, 8 November 2017

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

Finance Bill 2017: Committee Stage (Resumed)

10:00 am

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

That is even better. We should look at that too. It is shocking, when one considers what is happening in the property market and the enormous appreciation of the value of these properties, that such buyers are walking away and paying no tax. The other side of the coin is that I then have to traipse into PwC on behalf of residents or tenants in properties managed by PwC on behalf of these funds and plead with PwC not to evict them. I had to do that a while ago. These stony-faced men in PwC are looking for, in one case, 90% rent increases on an apartment block in Dún Laoghaire - the whole block. They wanted to kick the residents out on behalf of these lovely people. We have this array of tax structures to minimise or mitigate their tax liability and they try to evict people. I am glad to say that because the people resisted, PwC has been forced back so far. There have been two separate attempts by PwC to evict the whole block on behalf of, in this particular case, Apollo Global Management, which presumably benefits from this array of tax structures.

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