Dáil debates

Wednesday, 2 October 2019

Ceisteanna ar Reachtaíocht a Gealladh - Questions on Promised Legislation

 

12:40 pm

Photo of Leo VaradkarLeo Varadkar (Dublin West, Fine Gael) | Oireachtas source

As I understand it, Apple put €14 billion or so into the escrow account. The account is currently losing money because of negative interest rates. It may well gain money should interest rates become positive again. We do not know what will happen. Nobody can predict the future because we do not know when the court's decision will be made or what will happen to interest rates in the meantime. We can only guess; we cannot know for certain. If the money goes back to Apple, as the Deputy suggests it might, then it will lose the other money to which he refers.

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