{"id":3603,"date":"2018-09-07T08:37:01","date_gmt":"2018-09-07T08:37:01","guid":{"rendered":"http:\/\/seancrowe.ie\/home\/?p=3603"},"modified":"2018-09-07T08:37:01","modified_gmt":"2018-09-07T08:37:01","slug":"sweetheart-deal-with-banks-results-in-e117m-loss-to-exchequer","status":"publish","type":"post","link":"http:\/\/seancrowe.ie\/home\/sweetheart-deal-with-banks-results-in-e117m-loss-to-exchequer\/","title":{"rendered":"Sweetheart Deal with Banks Results in \u20ac117m Loss to Exchequer"},"content":{"rendered":"

Sweetheart Deal with Banks Results in \u20ac117m Loss to Exchequer<\/strong><\/p>\n

6th September, 2018<\/p>\n

Dublin South West TD Se\u00e1n Crowe has said a sweetheart deal with the Banks has resulted in 117 million euro losses to the Exchequer and has called on the government to end the corporation tax holiday for the bailed out banks.<\/p>\n

\u201cCrowe said that the \u00a0tax was foregone last year as a result of the government policy of allowing the bailed out banks to carry forward losses in write offs against their profits and said that with the banks \u00a0growing in profitability the amount of tax lost to the state could increase year on year unless changes are made.<\/p>\n

\u201cSinn F\u00e9in\u2019s has called for a cap of 25% on losses that can be carried forward in any one year with a limit of ten years in which the losses can be used. This\u00a0could bring in\u00a0an extra \u20ac175m in annual additional taxes for the State.<\/p>\n

Deputy Se\u00e1n Crowe said:<\/p>\n

\u201cA sweetheart deal with the Banks has resulted in 117 million losses to the Exchequer and the government need to end the corporation tax holiday for the bailed out banks<\/p>\n

“Under my party\u00a0Sinn F\u00e9in\u2019s proposal, a cap would be set of 25% on losses that can be carried forward in any one year with a limit of ten years in which the losses can be used and could potentially bring in\u00a0up to \u20ac175m extra in taxes each year for the Exchequer. This could be invested in housing, our broken health services, for elderly care or supporting those with disabilities or whatever priorities that are decided on<\/p>\n

“It is clear that the Minister\u2019s pre-ordained decision not to change tax policy is reflected in this huge loss to the Exchequer.<\/p>\n

“This is particularly galling considering the fact remains that Irish taxpayers are carrying forward the heavy financial burden of hundreds of millions that was created by speculators, developers and their pals in the banking sector.<\/p>\n

“As Budget Day approaches the government needs to wake up to the reality that there are\u00a010,000 homeless people, over a million people are on waiting lists, and a\u00a0growing disparity in income and wealth across the State. Clearly to meet these growing needs, they will have to end this sweetheart deal and tax holiday for these bailed out banks.<\/p>\n

ENDS<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Sweetheart Deal with Banks Results in \u20ac117m Loss to Exchequer 6th September, 2018 Dublin South West TD Se\u00e1n Crowe has said a sweetheart deal with the Banks has resulted in 117 million euro losses to the Exchequer and has called on the government to end the corporation tax holiday for the bailed out banks. \u201cCrowe […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[184],"tags":[],"class_list":["post-3603","post","type-post","status-publish","format-standard","hentry","category-banks"],"_links":{"self":[{"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/posts\/3603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/comments?post=3603"}],"version-history":[{"count":1,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/posts\/3603\/revisions"}],"predecessor-version":[{"id":3604,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/posts\/3603\/revisions\/3604"}],"wp:attachment":[{"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/media?parent=3603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/categories?post=3603"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/tags?post=3603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}