Pearse Doherty (Donegal, Sinn Fein)

I intend to press this amendment. I do not dispute the history the Tánaiste outlined. The issue of capitalisation of the banks or the State having to provide additional capital, which was the excuse used at the time, does not pertain any more. The paper he referenced is a number of years old. The idea in it was about dividends to the State as a result of our shareholding and also recognising asset value. There is no asset value to be recognised now in AIB or Bank of Ireland. We do not get any dividends from them and the State is about to disengage entirely from Permanent TSB as well.

This is about ensuring banks that are absolutely creaming it off the back of the Irish public and making €5 billion in profits pay a portion of tax. It is reverting back to what the late Brian Lenihan proposed, which was that as soon as they were profitable, they should be paying tax. It is unbelievable that there will be no tax paid. I understand how it works; if it is 50%, they will have the deferred assets for longer, but the fact is there will be no tax. We would be looking at AIB, 25 or 26 years on from the financial crisis, still not paying a cent in taxes, while making billions of euro in profits every year. It is ridiculous.

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