December 16, 2021
Companies in receipt of taxpayer supports should not be paying dividends – Louise O’Reilly TD

Sinn Féin spokesperson on Enterprise, Trade, and Employment, Louise O’Reilly TD, has reiterated her call that companies in receipt of taxpayer-funded Covid-19 business support payments should not be paying out dividends to shareholders, or else supports should cease.

Teachta O’Reilly said:

“Yesterday, at the Oireachtas Enterprise, Trade, and Employment Committee, I told officials from the Department that companies in receipt of taxpayer-funded Covid supports should not be paying dividends to shareholders.

“Reports across the media have outlined the scale and breadth of this practice, and it is not one that should be tolerated.

“Taxpayer-funded state supports are there to help struggling businesses cope with wage costs, overheads, and other expenses, as we battle through the pandemic. They most certainly are not there to facilitate the payment of dividends to a company’s shareholders.

“I was clear with Department officials that paying out dividends to shareholders while receiving taxpayer-funded supports might not be against the letter of the law, but it is certainly against the spirit of the law.

“It is up to the government to intervene and immediately bring an end to this practice. Furthermore, if possible, the state should seek the return of taxpayer monies if cases are identified where Covid-19 supports were used to directly pay dividends.”

Follow us online

Latest Tweets

In 2019, Leo Varadkar said he was giving the insurance industry 6 months to cut costs.

Here we are 5 years later and figures show that motor insurance has increased EVERY month over the last 10 months.

Sinn Féin in Government would hold the insurance industry to account, rather

Hosting Euro 2028 an ‘unmissable opportunity’ - @johnfinucane

“We must seize the opportunity to host the Euros by continuing to drive forward the redevelopment of Casement Park as a first-class facility fit to host this prestigious competition.”

https://vote.sinnfein.ie/hosting-euro-2028-an-unmissable-opportunity-finucane/

Watch as Sinn Féin Senator @paul_gavan grills the Health Minister on the complete and utter failures in University Hospital Limerick and our health system.

Sinn Féin has a plan to address the healthcare issues in the Midwest. @QuinlivanTD

Load More