Commissioner Oettinger Indicates Ireland Could Be in Line for a Massive Reduction in EU Budget Contributions
It is generally accepted that Ireland’s GDP/GNI, which is used to calculate our contribution to the overall EU Budget, is hugely skewed by the presence and the actions of the many MNCs headquartered here (Multi-National Corporations).
Last year it was reported that Ireland’s GDP ‘growth’ in 2015 had been underestimated by 26%, a massive leap for any country in one year. This was later explained by the shenanigans of Apple as the dreaded Commission ruling on unfair practices loomed and they transferred their IP (Intellectual Property) to Ireland, valued at a conservative €50bn.
That GDP increase on its own would cost Ireland at least an additional €250m per year from now on – that would build a hell of a lot of new social housing, never mind what it would do for our under-pressure hospitals and health system generally.
Today, however, following events in the CONT committee of the European Parliament, some good news.
In reply to a question by MEP Luke Ming Flanagan, who cited the EU’s own guidelines on the principles of equity and fairness, Budget and Human Resources Commissioner Gunther Oettinger stated that if the Irish Finance Minister (Michael Noonan) were to apply to his office for a reduction in what Ireland pays to the EU Budget by virtue of that increased GDP of last year and 2015, he will certainly consider that application.
This is good news for Ireland, potentially worth hundreds of millions per annum.
Luke Ming Flanagan has started the ball rolling – over to you now Minister Noonan.