The €13 billion from the Apple case will not be available to use until March, while further €3 billion from sale of AIB shares is also available
The €13 billion from the Apple case will not be available to use until March, while further €3 billion from sale of AIB shares is also available Taoiseach Simon Harris flanked by Minister for Public Expenditure and Reform Paschal Donohoe, Minister for Justice Helen McEntee and Minister of State Hildegarde Naughton at the Fine Gael think in in Tullamore.
Photograph: Alan BetsonIn addition to the €13 billion from the Apple case being added to the exchequer, the State will also be in receipt of an additional €3 billion for divesting some of the shares it holds in “They will have to identify pre-budget,” said one source with knowledge of discussions.Apple tax: Taoiseach suggests funds could go towards infrastructure and housingThe Irish Times spoke on Wednesday to a number of sources in Government from different departments and from each of the three Coalition parties. It is understood that no substantive discussion at Government level has yet occurred but such conversations would begin in earnest over the coming week. There was general agreement that only a portion of the windfall would be spent directly, with some at least being earmarked for a sovereign wealth fund, or a rainy-day fund. No decision has been made on how much will be allotted to this fund. Some of the State’s biggest and most pressing infrastructure requirements could benefit, sources indicated. Housing was the area that was primarily identified, in addition to water infrastructure, the national grid and roads. Projects that could benefit from investment include the new proposed water supply for Dublin from the river Shannon; an ambitious expansion of the national energy grid to accommodate new sources of power including offshore wind energy and providing capacity for data centres; and specific funding for the biggest Fine Gael strongly supports the establishment of a department of infrastructure, although there is less enthusiasm for the idea within Fianna Fáil, where some expressed a view that it would duplicate the work of existing departments.“There is a significant amount of new infrastructure the State does need to build in the years ahead. That’s where the real money will be spent. Having a minister whose job it is to look at that infrastructure is something other countries have done and have done well.” Mr Donohoe indicated that some of the windfall would be put aside into a fund and also emphasised that none of the money would be used for ongoing expenditure. “We need to ensure that we don’t fool anybody into thinking that we can use this money to pay for expenses and to pay for wages that will recur again and again in the future. This is a once-off amount of money that we get to spend once.also said he would like to see a substantial spend on housing and is understood to be preparing a case to make to Cabinet colleagues this month.Ireland’s competitiveness should ‘never be taken for granted’, Minister says after Apple warningSinn Féin pledges €10-a-day childcare from 2025 if it is in power after general electionApple warned Government of ‘real threat to Ireland’ from countries trying to lure multinationals away Spray foam insulation: as 300,000 UK homeowners are left in a tight spot, Irish surveyors have their own warningsSophie Toscan du Plantier case: Failure to deliver justice ‘a deep shame,’ says Micheál MartinIrish Open: Seán Keeling a shining light on day one at Royal County DownOur politics team’s behind-the-scenes take on events of the day. Every Tuesday, Wednesday & Thursday when the Dáil sits
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