Gerry Adams (Louth, Sinn Fein) | Oireachtas source

A major global conspiracy assisting the wealthy elite, including individuals from this State, to conceal wealth and to avoid tax was publicised this weekend. The Swiss branch of HSBC advised clients on how to keep money hidden from State authorities and offered deals to aid and abet tax dodgers. Irish money held in that bank, on which due tax was not paid, is ultimately - I am sure the Taoiseach would agree - money taken from ordinary citizens, citizens such as the 530 who lie today on hospital trolleys, including 50 in Our Lady of Lourdes Hospital in my constituency. The people who pay the price are those citizens and moneys have been taken from Irish hospitals, schools, children's benefits, carers' allowances, allowances for children with disabilities and from the elderly. The Swiss HSBC account contained €3.1 billion.

I repeat, €3.1 billion, linked to 350 clients associated with Ireland, yet only 20 Irish account holders made settlements, worth just over €4.5 million, with the Revenue Commissioners. Unlike the anti-water charge activists, there were no early morning raids or arrests. In the USA, France, Belgium and Argentina, the bank now faces criminal investigation, but not in Ireland, which is the smallest, best country in the world in which to avoid tax if one is wealthy. Why did the Revenue Commissioners not pursue a case against HSBC for facilitating tax evasion by Irish citizens? As I have said, it involves Irish accounts containing €3.1 billion held by 350 clients. Does the Taoiseach believe that €4.55 million is a reasonable amount for the State to have recovered in tax settlements? Does he agree that this scandalous and corrupt behaviour is a matter for the Committee of Public Accounts to investigate?

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