Statement from Ged Nash TD on the Apple judgment

Statement from Ged Nash TD on the Apple judgment

"Today's judgment is a landmark one. The Minister for Finance must make a statement today outlining the wider implications of the judgment for Ireland's corporation tax system and for our industrial policy.

"Labour has today formally requested a full Dáil debate on this pressing matter when the Dáil returns next Wednesday.

"This judgment vindicates Labour's early call, for which we were roundly criticised by both Fine Gael and Sinn Fein, to sign up to both pillars of the OECD corporation tax reform process.

"This was the right and ethical thing to do, and it gives investors the certainty they need into the future.

"In fact the process to prevent profit shifting and the minimisation of tax bills with reference to intellectual property kicked-off with reforms brought in in Ireland in 2014.

"The present uptick in corporation tax receipts can trace some of its origin back to those important reforms.

"This is a genuine windfall for the State. Much of the resources need to be directed to housing and infrastructure development.

"Labour has been critical of the inadequacy of the Climate, Nature and Infrastructure Fund and we believe that some of these resources can find a home there, with a view to investing in a genuine and meaningful national retrofit and sustainable energy campaign."