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Corporate corruption and tax avoidance biggest moral issue of this generation - Carthy

24 November, 2016 - by Matt Carthy MEP


Sinn Féin MEP Matt Carthy has said that the issue of corporate corruption and tax avoidance is the biggest moral issue of this generation.

He said the Irish Government’s decision to appeal the EU Commission finding against Apple’s tax arrangements here was putting Ireland at the centre of the debate on corporate tax avoidance.

Addressing a public meeting in Naas, Co Kildare this evening, Carthy said:

“Tax justice and the systematic abuse of tax law by the world's wealthiest individuals and corporations has been a big issue, and a big debate, in Ireland since the recent Apple tax ruling.

“But corporate corruption and tax avoidance are not just an issue for Ireland. I’ve been working on these issues for a while now as an MEP and in my view, this is the biggest moral issue of our generation.

“Earlier this year Oxfam published a report that showed that the richest 62 people in the world now own more wealth than the poorest 50 per cent combined.

“The fact that this figure of 62 people has dropped from 388 people since 2010 just goes to show the extreme and rising concentration of wealth since the financial crisis began.

“The offshore scam is a major and direct contributing factor to this obscene inequality.

“It’s not just a matter of inequality between the advanced economies and developing countries. We all know this inequality is growing right here in our own society.

“And every euro hidden by tax avoiders in an off-shore account is one that should have been used to fund healthcare, water, education and other vital public services.”

Carthy continued:

“Sinn Féin has demanded a public inquiry into the circumstances in which the Apple tax rulings were issued.

“If Michael Noonan is so confident that the sweetheart deal with Apple was not illegal then he should open such an inquiry.

"The Government should also stop assisting Apple in delaying the publication of the state aid ruling.”

ENDS

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