ireland's tax haven industry

Over the last quarter of a century something fundamental seems to have changed in the way in which capitalism works.

The tendency since 1970 has been towards greater geographical mobility of capital.

… Matheson attorney Dualta Counihan has served as a director of at least 274 entities, based on Irish records, while attorney George Brady has served as a director of at least 232 entities.

“Eurostat, the EU Commission’s data agency has calculated the cost of the banking crisis in each EU country. The following focuses on the cost to general government budgets. Ireland has really taken one for Team EU.”

A Really Really Special Case Requires a Really Really Special Solution

Michael Taft, 15 Jan 2013

“As understood by the Financial Regulator, ‘principles-based’ regulation relied very heavily on making sure that appropriate governance structures and systems were in place in banks and building societies.

Honohan Report on the Irish banking crisis, May 2010, p.44.

“As understood by the Financial Regulator, ‘principles-based’ regulation relied very heavily on making sure that appropriate governance structures and systems were in place in banks and building societies.

To this extent, the underlying philosophy was oriented towards trusting a properly governed firm; it was potentially only a short step from that trust to the emergence of a somewhat diffident attitude on the part of the regulators so far as challenging the decisions of firms was concerned.

Honohan Report on the Irish banking crisis, May 2010, p.44.

“As understood by the Financial Regulator, ‘principles-based’ regulation relied very heavily on making sure that appropriate governance structures and systems were in place in banks and building societies.

To this extent, the underlying philosophy was oriented towards trusting a properly governed firm; it was potentially only a short step from that trust to the emergence of a somewhat diffident attitude on the part of the regulators so far as challenging the decisions of firms was concerned.

[Also], legislation set as a statutory objective of the [central bank and financial regulator] the promotion of the financial services industry in Ireland, the situation was ripe for the emergence of a rather accommodating stance vis-à-vis credit institutions.”

Honohan Report on the Irish banking crisis, May 2010, p.44.

Closing down of Dissent - Attacks on Equality in IrelandEquality Bodies – closed down or with reduced Budgets

Combat Poverty Agency –closed 2008 incorporated into the Department of Social Protection Equality Authority – 2009 43% cut and now being merged with the Human Rights Commission Women’s Health Council – closed 2009  Crisis Pregnancy Agency – closed and merged with the Health Service Executive  Irish Human Rights Commission -Budget cuts since 2009 and merged with Equality Authority Equality for Women Measure - co-funded by EU Operational Programme ---budget partly transferred out of

this area and now under Dept. For Enterprise, Trade and Employment  National Consultative Committee on Racism and Interculturalism (NCCRI) _Closed 2009  Gender Equality desk at the Department (Ministry) of Justice, Equality and Law Reform – Desk Closed 2009 Gender Equality Unit – Department of Education – Closed early 2000s Higher Education Equality Unit – UCC -Closed and merged into Higher Education Authority (early 2000s) National Women’s Council of Ireland -158 member organisations- budget cuts of 15% in 2008-11 and 38% in

2012 Traveller Education cutbacks 2011 and 2012 – all 42 Visiting teaches for Travellers removed*  Rape Crisis Network Ireland – core Health Authority Funding removed 2011

SAFE Ireland network of Women’s’ Refuges - core Health Authority Funding removed 2011

People With Disabilities in Ireland's (PWDI) - funding removed 2012

National Carers’ Strategy – abandoned 2009

Kathleen Lynch, Equality Studies UCD School of Social Justice 60