Banks must cough up
BY MÍCHEÁL Mac DONNCHA
The Report of the Public Accounts Committee into the DIRT scandal was
welcomed by Sinn Féin TD Caoimhghín Ó Caoláin on Wednesday, 15
December. He urged the immediate implementation of its recommendations
by the Government. Ó Caoláin said:
``This Report exposes how the financial institutions and the wealthy in
our society conspired to deprive the public purse of badly needed
revenue at a time when the poor, the sick and the old were being hit
by savage government cutbacks. The Report is a damning indictment both
of the banks and of the state agencies - especially the Department of
Finance, the Central Bank, and the Revenue Commissioners.
``The recommendation to carry out a full and retrospective audit of
DIRT liability in the financial insitutions, paid for by those
institutions themselves is very welcome. The Government should
implement this without delay. The banks and other financial
institutions must cough up. I urge the inclusion of these proposals in
full in the forthcoming Finance Bill.
``The proposal for a levy on financial institutions to go towards a new
Foundation for Investing in Communities is progressive and echoes
policy advocated by Sinn Féin for many years.
``It is time that the financial institutions who have abused their
powerful positions for decades are brought to heel.''
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