Joan Burton (Dublin West, Labour)

Of the ten financial institutions to which the Minister referred, he stated in 2003 that three financial institutions had been dealt and clearly the Revenue has met a further five institutions. Does that mean that the Revenue has now concluded settlements with those institutions and their directors on the activities of the subsidiary operations of Irish financial institutions, not in this jurisdiction? If so, has the Minister an estimate of the further tax and penalties that he expects to collect as a consequence of these investigations? Are the directors of these financial institutions secure from further prosecution or penalty by the Revenue Commissioners? Is it the Minister's intention to pursue the directors of financial institutions which may have been in default? I referred previously to the pubic statements by Mr. Fitzpatrick, formerly of Anglo Irish Bank, on the banks coming together to meet with the Revenue Commissioners on these matters. Did the financial institutions meet both individually and collectively, as suggested by Mr. Fitzpatrick in 2003?

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