Large-scale debt-holders starting up firms abroad

LABOUR Finance spokeswoman Joan Burton has expressed “outrage” that businessmen and bankers with large-scale debts in Ireland have been allowed to set up business and residence abroad.

Speaking at a heated Oireachtas committee meeting the Labour TD said this was an issue which was being increasingly raised by constituents.

“We know that most of the money has been wasted on speculation but these individuals would seem to still have access to considerable wealth, to ‘start up again abroad,’ a course not open to ordinary families weighed down with mortgages an other debts,” Ms Burton said.