Harney promises legislation to regulate auditors

The Tanaiste, Mary Harney, has told the Dail debate on the Ansbacher report that legislation will be introduced to regulate financial auditors.

Ms Harney also said that the Government will support prosecutions against individuals or companies found to have broken the law in their financial dealings.

She described the Ansbacher tax scam as an attempt to subvert the Irish State.

“The systematic planned denial of taxes to the State was a denial of the sovereignty of this State,” she said.

“It was a subversion, one could say, of the vote of each citizen, of their equality before the law, of their right to live in a fair society. It undermined the ability of the state to provide vital public services.”

Meanwhile, Labour Party leader Ruairi Quinn has called for further legislation to outlaw the tax-exile status held by some of Ireland’s wealthiest businessmen.

“Isn’t it time that Irish citizens, wherever they live, pay Irish taxes if they want to avail of the privilege and the benefit and the respect of being an Irish citizen?” he asked.

“The time has come to establish the fundamental principle that every citizen who can afford to do so should pay his or her way.”

Mr Quinn described the Ansbacher clients as “people who took from the poor to enrich themselves” and said the Ansbacher scheme probably cost lives because it deprived the health service of vital funds.