U2 under fire from Labour's Burton

U2 have come under fire from the Labour Party's Joan Burton following reports the rockers have transferred part of their publishing company to a Dutch finance firm in a bid to lower their tax bills.

The Elevation stars allegedly took the decision to move a portion of U2 Limited to the Netherlands company - which is also used by The Rolling Stones - after the Government placed a €250,000 limit on tax-free incomes.

The cap was announced last December, and brought an end to the tax exemption on royalties which benefited Irish recording artists.

Labour finance spokesperson Joan Burton said: "Having listened to Bono on the necessity for the Government to give more money to Ireland Aid... I am surprised that U2 are not prepared to contribute to the exchequer on a fair basis along with the bulk of taxpayers."