Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

In the past month we have had the spectacle of AIB, Bank of Ireland and Permanent TSB announcing combined Irish profits of €2.7 billion, not one cent of which is paid in corporation tax by any of them as a result of a change to the law brought in by the Fine Gael Government. Looking across the globe, this is quite a unique situation. If we look at the OECD report, we will find we are an outlier compared with many of our European and indeed international counterparts. Will the Minister examine the example of Britain, which has reduced further from 50% to 25% the amount that can be carried on by financial institutions? This would see our financial institutions that have been bailed out by the Irish State starting to pay corporation tax in this State.

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