Sean Barrett (Independent) | Oireachtas source

I welcome the work of journalists in dealing with the HSBC bank's facilitation of large scale tax dodging. Margaret Hodge, MP, the chair of the Westminster Public Accounts Committee, said that Her Majesty's Revenue and Customs has been far too lenient in taking up battles against corporate tax avoidance. The famed French economist, Thomas Piketty, said the offshore industry is a major threat to our democratic institutions and our basic social contract. I ask for the Minister for Finance to report to the House on the tax avoidance industry here, to state how much of it is connected with the IFSC and to set out the dangers the development of this industry poses to the Exchequer given our experience on previous occasions with the DIRT inquiry and financial institutions. They owe us better than to be part of the international tax avoidance industry. It is something we should debate in the House.