Sir, – Ireland loses a court case and gains €13 billion as a result.
Like Isaac Newton, I think I might need to sit under a tree and contemplate that one for a while. – Yours, etc,
AIDAN RODDY,
Cabinteely,
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‘I could have gone to California. At this rate, I probably would have raised about half a billion dollars’
Dublin 18.
Sir, – I remember when the late Albert Reynolds came home from Brussels with £8 billion (€10.3 billion) in his pocket and a big smile on his face.
Now the whole Government is embarrassed about receiving €13 billion! – Yours, etc,
PAT O’REILLY,
Clonakilty,
Co Cork.
Sir, – I note that it could take six months to collect the tax due.
How long does it take to do a bank transfer? – Yours, etc,
COLIN PRATT,
Killala,
Co Mayo.
Sir, – With all the talking down indulged in by Ministers regarding the €13 billion Apple cash, it seems the windfall is not being treated as a windfall. – Yours, etc,
PETER DECLAN O’HALLORAN,
Belturbet,
Co Cavan.
Sir,– To celebrate, I suggest a new public holiday to be called Apple Windfall Day. – Yours, etc,
JOAN BOURKE,
Dublin 15.
Sir, – I would like to suggest the Government spends a relatively small part of the €13 billion refund on the reconstruction of the last glasshouse remaining to be updated in the Botanic Gardens in Dublin.
It could be called the Apple House. – Yours, etc,
MAY HUMPHRIES,
Drumcondra,
Dublin 9.
Sir, – I bet the esteemed Frank McNally could come up with 100 ways to spend the Apple money as part of his “A History of Ireland in 100 ....” series. – Yours, etc,
CLARE BALFE,
Dublin 7.
A chara, – The billions of euro our Government is now being forced to take must be prudently invested in our underfunded public schools, sports clubs and high-potential indigenous start-ups, so as to create long-term tangible benefits for as many people as possible.
It is also vital that the yet to be identified people involved in the procurement of the infamous bike shed, or anybody else that is so flippant with public money, should have zero access to any of these monies. –Is mise,
JASON POWER,
Salthill,
Galway.
Sir, – The Ireland Apple Escrow Fund was set up in April 2018 with €14.3 billion of back taxes (no longer alleged) and interest and, while awaiting various court decisions, handed it to experts to manage.
Much to their joy, no doubt, given the €6 million in fees generated for 2023 alone.
According to gov.ie, the end of 2023 saw the account containing €13.8 billion, down €500 million during one of the longest market bull runs in history.
To evaluate this stellar performance, we can look at some alternative strategies a reasonable investor might have chosen during this period.
A very cautious person might have opted to invest the sum in, say, the Dow Jones Industrial Average. This would have yielded €22 billion.
The slightly more sprightly S&P 500 would have yielded €25 billion.
However, if that money had been invested in Apple itself, no doubt to the pleasure of the technology giant, the account would have been worth a staggering €67 billion at the end of 2023 alone.
Given the trend to price items in units of Leinster House bike sheds, that would be 200,000 of those no doubt fine constructions. – Yours, etc,
CONOR O’ROURKE,
Portmarnock,
Co Dublin.
Sir, – What proportion of the proceeds of the Apple tax ruling will be spent on the lawyers’ fees accumulated trying to disown the proceeds? – Yours, etc,
KILLIAN FOLEY-WALSH,
Kilkenny.
Sir, – While a letter writer (September 11th) has an interesting point, sadly €13 billion will not mean there is €100,000 for each citizen. That would require approximately €500 billion, so the Government would probably have to properly tax all the foreign direct investment companies. I won’t hold my breath. – Yours, etc,
DAVID CURRAN,
Knocknacarra,
Galway.
A chara, – Before the Apple payment gets squandered, would it be possible to put a front on the bicycle shed? – Yours, etc,
JOHN POYNTON,
Wicklow.
Sir, – With the Apple windfall, the State has effectively “won the Lotto”. Why not make use of the bonus tax take to right some wrongs?
Once and for all, put in place and apply the funding for children’s scoliosis operations, strengthen access for all to mental health services, provide adequate neurological services nationwide, initiate and reimagine a fit for purpose and dynamic Metrolink, and budget for an international airport in the midlands to relieve the pressure on Dublin and give nationwide ease of access to air travel.
I’m sure that greater minds than mine have other ideas for the long-term benefit of citizens.
I would add one caveat.
Our State bodies don’t “do infrastructure” well. Those who oversaw recent debacles, such as the children’s hospital, without effective budgetary control and accountability, or respect for taxpayers’ money, should not be let near the Apple windfall.
Ireland has architects, engineers, project managers, health professionals, educators, planners, designers, artists and visionaries, with proven track records, leaving legacies both here and abroad, who I’m sure would be willing to “don the green jersey” and be seconded to do the State some service. – Yours, etc,
STEVE PETHERBRIDGE,
Swords,
Co Dublin.
Sir, – The announcement of the Apple windfall into the State coffers is an opportunity to transform the lives of children, youth and people of all ages and ethnic backgrounds who have been left behind in low-income communities across Ireland.
The latest poverty, income inequality and living standards research from the Economic and Social Research Institute (ESRI) reports an increasing number of children materially deprived in our communities, despite bulging national finances and budget giveaways.
The ESRI reports that 230,000 children are living in poverty today, an increase of 30,000 since 2022.
The chief executive of Community Foundation Ireland, Denise Charlton, commented on the polarising effect this is having. “It seems entire communities are now disengaging from civic society, not just individuals and families. This leads to lower levels of life satisfaction, increased isolation and a breakdown in social engagement.”
A recent report from the Lancet Psychiatry Commission on youth mental health reported an “alarming” surge in mental health issues among young people in face of “unprecedented” challenges.
The report outlined how mental health accounts for almost half (45 per cent) of the overall burden of disease in people aged 10 to 24, yet only 2 per cent of health budgets are devoted to mental healthcare.
We are not looking after the needs of our young people and children, particularly those in low-income groups in communities across Ireland.
In a positive move last January, Minister for Social Protection Heather Humphreys announced funding of more than €4.5 million to tackle dereliction and vacancy in rural Ireland.
The projects that will be revamped under the initiative include former Garda stations, schools, post offices, parish halls, restaurants, public houses and vacant sites. The buildings will be developed for a range of community purposes.
This type of programme is invaluable but a tiny drop in the ocean of what local communities need.
The sudden arrival of a €14 billion windfall is an opportunity to show massive ambition and to address the needs of all members of low-income communities to feel that they belong, that their voice is valuable and is being heard – that they are connected to other members of their community, whether it is in the inner city, the fringes of the town or the middle of nowhere. – Yours, etc,
Dr CATHERINE CONLON,
Ballintemple,
Cork.