Oireachtas Joint and Select Committees

Wednesday, 5 July 2023

Committee on Budgetary Oversight

Sovereign Wealth Funds: Discussion (Resumed)

Mr. Pat Leahy:

I would not think so. To the extent that those profits are made, they are made on whatever trading businesses they are doing at the moment, so no, the profits we are talking about are profits by the foreign multinationals here as opposed to profits made by domestic entities like the existing banks.