A Laois TD has stated that information gathered by the Comptroller and Auditor General (C&AG) reveals 120 of the 480 wealthiest people in Ireland declared taxable income below the average industrial wage.
Another 201 of this group reported taxable income below €125,000.
The Chairman of the Committee of Public Accounts, Sean Fleming, has said that the 2017 Annual Report of the C&AG, highlights areas in the spending of public money where there is poor oversight and waste of public money, while it also draws attention to issues related to taxation of high-wealth individuals.
Deputy Fleming said, “The threshold used by the Revenue Commissioners to define high wealth individuals is €50m in net assets, high by internationally standards. There are 480 individuals in this category and unbelievably 120 of these have declared taxable income below the average industrial wage. Another 201 of this group report taxable income of below €125,000. Most people will be shocked to hear this.”
“The C&AG also highlighted wastage of approximately €20 million of public money associated with OPW’s leasing of the Department of Health’s new office premises in the Miesian Plaza.
The Fianna Fáil Deputy continued, “The State continues to struggle with a massive housing problem. €1.5 billion is given to approved housing bodies (AHBs), known to most people as voluntary housing organisations. However, I am flabbergasted to learn that there is no statutory regulation of AHBs. The Department does not seem to know how many houses are built by these bodies, in the middle of the greatest homelessness crisis, where every additional dwelling counts, this is my view is unacceptable.
He also spoke about the CervicalCheck crisis and how much it could mean financially for the State.
Hepatits C treatment has cost €1.5 billion so far
“Given the pain and suffering caused by the latest health crisis that is CervicalCheck, the C&AG’s chapter on Hepatitis C treatment will make interesting reading. That particular State error has cost the taxpayer €1.5 billion to date, to say nothing for the terrible consequences for many of the 1,700 people infected.”
Deputy Fleming concluded, “All the matters highlighted by the C&AG in his annual report will be examined in detail by the PAC as part of its work programme.”
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