Oireachtas Joint and Select Committees
Thursday, 19 April 2018
Public Accounts Committee
Chapter 1 - Exchequer Financial Outturn for 2016
Chapter 2 - Government Debt
Chapter 24 - Irish Fiscal Advisory Council
9:00 am
Mr. John McCarthy:
They cost us money. The reason for that is - Professor John Fitzgerald and others have written about this and are absolutely correct - their global profits are transferred into Ireland via the profit inflows in a national accounting sense. They boost our GNI and our EU budget contribution goes up. We get zero from them and they cost us in the ballpark of a couple of hundred million euro every year. That is not something that is going to happen; it is happening right now.
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