Dáil debates

Tuesday, 22 November 2022

Report of Committee of Selection: Motion

Taoiseach's Meetings and Engagements

4:10 pm

Photo of Ivana BacikIvana Bacik (Dublin Bay South, Labour) | Oireachtas source

The Taoiseach outlined some of the issues discussed at the recent meeting. I want to follow up on two of them. The first is Russia's brutal war in Ukraine. There are reports today that the EU plans to confiscate the assets of Russian sanction evaders to provide support for Ukraine to rebuild. Will the Taoiseach consider removing the Government block on a Bill proposed by our colleague, Deputy Howlin, namely the Magnitsky legislation proposed by the Labour Party before the Russian invasion of Ukraine began? It would allow for the assets of those abusive of human rights to be seized. In particular, it would allow for assets held by Russians who are sanction evaders to be seized. Reports this year have stated that anywhere from €34 billion to €50 billion worth of assets are in special purpose vehicles in the IFSC.

My second point concerns energy policy, a key focus of Commissioner Vestager's visit to Dublin. In the context of the Cabinet finally agreeing plans for a windfall tax, which is welcome, can the Taoiseach confirm that the solidarity contribution announced today on fossil fuel companies will also ensure that there is a windfall tax on the profits of the Corrib gas field which will cover all of the windfall gains it has made this year? Was he lobbied in any way by Vermilion Energy on the rate of tax will apply to Corrib and what the baseline profit rate would be?


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