TD for Wicklow and East Carlow. Fighting for job creation, economic justice and political reform.

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Monthly archive July, 2016
Tax Avoidance Anomaly Means Pain for Taxpayers

Tax Avoidance Anomaly Means Pain for Taxpayers

In recent weeks, I’ve been looking into entirely lawful ‘tax neutral’ schemes being used by so-called vulture funds in Ireland. And I fear a legitimate law could inadvertently lead to one of the biggest avoidance of Irish taxes in the State’s history. We could be looking at total lost taxes in the region of €20bn...
New Politics – What Is It, and Why Do We Need It?

New Politics – What Is It, and Why Do We Need It?

Earlier this week I had the great honour of speaking at the MacGill Summer School, on this nebulous idea of ‘New Politics’. I wanted to lay out the context for New Politics – why we need it, and what on earth it is. New Politics – What is it, and why do we need it?...
Who Owns Mars Capital?

Who Owns Mars Capital?

Mars Capital – the company that bought the mortgages of Irish families from IBRC at a 58% discount – is owned by a children’s charity. From Leaders Questions: “Last week I showed how a U.S. vulture fund structured its Irish subsidiary, Mars Capital, to avoid paying taxes in Ireland on its Irish profits. I now...
Why are charities being made the owners of Irish companies that control large financial assets?

Why are charities being made the owners of Irish companies that control large financial assets?

Why are certain Irish charities being made the owners of Irish companies that control large financial assets? Why would a group of charities, whose stated aim is to raise cash for good causes, also happen to own companies managing billions in assets? Is this sort of thing likely to increase, or further erode, public trust...
How Did the Government Shaft Mortgage Holders and Taxpayers in One Fell Swoop?

How Did the Government Shaft Mortgage Holders and Taxpayers in One Fell Swoop?

The Irish Government could be complicit in wholesale tax avoidance by foreign investment firms, which are generating huge profits in Ireland off the backs of Irish mortgage holders. Sarah and Dominic (not their real names) live in Kilkenny with their two children. They bought their home in 2007. The shop Sarah worked in closed during...
Where are IBRC Sale Profits Going?

Where are IBRC Sale Profits Going?

Two years ago, the government sold thousands of Irish mortgages to foreign funds. They refused to allow the mortgage holders bid on them. Some of those mortgage holders are now being evicted, by funds that bought their mortgages at discounts of c.60%. A look at the accounts for one of these funds suggests to me...