Shameful story set to continue

ADDING to the tarnished image of politics, former Fianna Fáil TD Denis Foley has emerged as one of the largest individual tax defaulters on the latest list published by the Revenue Commissioners.

Unsurprisingly, this follows his admission of holding an account in the infamous Ansbacher scheme designed to fire-proof a golden circle of wealthy individuals from the eyes of the taxman.

The list of beneficial depositors at Ansbacher also included disgraced ex-Taoiseach Charles J Haughey.

Having built his wealth in the dance halls of Kerry, Mr Foley has settled for €580,000 in interest, tax and penalties for not declaring his income.

Also named and shamed on the Revenue list were bogus non-resident account holders involved in 118 settlements worth €22.9m plus six settlements totalling 2.2m with Ansbacher investors.

To express the hope that tax evasion on this massive scale is over would be tempting fate.