Sinn Féin - On Your Side

Tax avoidance revelations a vindication of Sinn Féin policies on taxation

9 November, 2004

Sinn Féin spokesperson on the Economy, Caoimhghin Ó Caoláin has described this evening's revelations that the exchequer missed out on over €8 billion in revenue as a result of tax avoidance schemes as "vindication of Sinn Féin policies on taxation."

Deputy Ó Caoláin said, "For years now we have been asking the Department of Finance how much money was being lost to the economy through the various very generous tax avoidance schemes that generally favour the most wealthy in society. They repeatedly told us that they didn't know how much was being lost, which in itself is an indication of the Government‚s inability to properly manage the economy.

"That at least €8 billion has been lost to the economy shows that there is a massive need for a complete overhaul of our taxation system, taking the lowest paid out of the tax net and making the very wealthy pay their fair share.

"This evening's revelation is a clear vindication of Sinn Féin's taxation policies that demand a comprehensive review of the current tax regime and the establishment of an equitable tax system." ENDS

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