Maureen O'Sullivan (Dublin Central, Independent) | Oireachtas source

My question was submitted just before that directive was signed. I acknowledge the work the Government and officials have done to support the accounting directive. This is something NGOs and civil society have been seeking for some time. The EU Commissioner, Michel Barnier, has said that local communities in resource-rich countries will finally be better informed about what their governments are being paid by multinationals etc. for exploiting oil and gas fields, mineral deposits and forests. This directive must mean more than that they will be better informed, because these communities are losing out big time. They should see the benefits of the resources in their countries.

Some $1 trillion disappears without trace from developing country, abetted in the main by multinational companies evading taxes. The disappearance of these moneys is also supported by corruption on the part of officials. This issue has been called the ugliest chapter in global economic affairs since slavery.

Will Ireland build on what has been achieved in the directive, particularly in chapter 9, to create and support greater transparency in country-by-country reporting?

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