Mary Lou McDonald (Dublin Central, Sinn Fein) | Oireachtas source

AIB is carrying losses of €3 billion. Calculated out over 20 years, that is €150 million in tax forgone at a time when we desperately need more revenue. The reason the banks have this arrangement is that a Fine Gael Government decided to allow them to carry 100% of their losses and to write it off in that way. While that is the technicality of it, what matters here is the consequence. The consequence is that it is tax forgone. At the same time, the Taoiseach stands in the Chamber day in and day out, sheds crocodile tears and tells us how sorry he is, that he understands how awful it is but that he is terribly sorry because he does not have the resources.

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