How could the Apple levy windfall be spent in Ireland?
How could the Apple levy windfall be spent in Ireland?
The Republic of Ireland’s general election will be held on Friday – and the parties vying to form the next government have been making promises about how they will spend a huge levy windfall from Apple.
In September, the EU’s highest court ruled that the US technology firm had benefited from an illegal sweetheart levy deal in the country.
The court ordered Ireland to collect more than €14bn (£11.8bn) in back taxes and gain.
The largest parties have all promised to use the money to enhance the country’s creaking infrastructure.
Housing
The expense and availability of housing remains one of Ireland’s biggest social, economic and political issues.
Fianna Fáil, currently the largest event, has said it will allocate €4bn (£3.3bn) for social and affordable housing.
Another €2bn (£1.7bn) would leave to a recent “Towns resource pool” whose remit would include upgrading infrastructure to “open up more serviced sites for building homes”.
Their coalition associate, Fine Gael, has promised to allocate more than half of the Apple money to housing.
Sinn Féin, the largest opposition event, has specified that €7.6bn (£6.3bn) would leave towards a community housing programme.
It would also allocate €1bn (£830m) to a redress scheme for people whose homes are crumbling due to defective building materials.
The Labour event, which could characteristic in coalition negotiations, says it would use €6bn (£5bn) to make a state-owned construction business.
It says this would make “a permanent state capacity for the delivery of housing” and counter the “for-profits delivery model”.
community transport
The Green event, currently the junior associate in the coalition government, would use the money to leave large on community transport.
It would use €7bn (£5.8bn), plus €3bn (£2.5bn) of other one-off funds, to “supercharge” delivery of major community transport projects.
This would include expanding Dublin’s tram and light rail networks as well as reopening the railway line from Wexford to Waterford and upgrading existing lines to Limerick and Kilkenny.
Fianna Fáil would allocate €3.6bn (£3bn) “for the advancement of transport networks”.
Fine Gael also has transport and road infrastructure as one of its four Apple money priorities, without specifying the amount of money.
Water and electricity
Fine Gael’s two other priorities are spending on the water structure and improving the electricity grid to cope with more renewable vigor creation.
Fianna Fáil specific €2.5bn (£2.1bn) to back resource in the grid and €3bn (£2.5bn) for the state-owned water business, including money for connections to housing sites.
Sinn Féin would also allocate €2.5bn (£2.1bn) to vigor, including money for a recent renewable vigor resource pool.
It said the pool would allow the state to invest alongside private companies in renewable projects.
The event uses the example of Norway’s state resource pool saying it has acquired stakes in over 3.5 GW of renewable projects across Europe.
throng projects
Both Fianna Fáil and Sinn Féin propose measures which in the UK would be described as “levelling up”.
Fianna Fáil’s Towns resource pool would include a financing stream for recent community parks and pitches.
It says this would back “unlocking of unused or disused industrial facilities” and assist the redevelopment of town centres.
Sinn Féin would put €1bn (£830m) into a recent throng resource pool to “enhance the lives of working-class people that have been left behind” by the current coalition.
It would be targeted at what the event calls “the beating heart of Irish life”: sports and play facilities, arts centres, childcare and community spaces.
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