Dear Madam, – I’m finding it difficult to fathom the fact that losing a court case has resulted in a formidable €13 billion windfall for Ireland. It brings to mind Isaac Newton’s meditative musings under an apple tree. – Indeed,
AIDAN RODDY from Cabinteely, Dublin 18.
Dear Madam, – I ironically recall the late Albert Reynolds returning from Brussels, proudly bearing £8 billion (€10.3 billion), whereas currently, the prospect of receiving €13 billion appears to cause our Government discomfort.
PAT O’REILLY from Clonakilty, Co Cork.
Madam, – It struck me that collection of the due tax might span six months. Yet, how considerable a time does it require to facilitate a bank transfer? – Wondering,
COLIN PRATT from Killala, Co Mayo.
Madam, – It’s interesting to observe how the significant €13 billion earnings from Apple were considerably downplayed by the ministers; such that the sum is not recognised as a boon it inherently is.
PETER DECLAN O’HALLORAN from Belturbet, Co Cavan.
Madam,– I propose the notion of commemorating this landmark incident by dedicating a new public holiday named ‘Apple Windfall Day’.
JOAN BOURKE from Dublin 15.
Madam, – I advise that the government invests a moderate portion of the substantial €13 billion refund in revamping the final remaining glasshouse in Dublin’s Botanic Gardens, perhaps named the ‘Apple House’. – I quote,
MAY HUMPHRIES from Drumcondra, Dublin 9.
Madam, – I assert that the notable Frank McNally can certainly conjure up 100 alternative utilisation of the accrued Apple funds to supplement his “A History of Ireland in 100…” series.
CLARE BALFE from Dublin 7.
A chara, – The billions that our government is reluctantly being compelled to accept should be wisely spent on improving public schools, promoting sports clubs, and fostering promising local start-ups for maximising broad, sustainable advantages.
Furthermore, it is paramount that unidentified personnel implicated in the controversial bike shed procurement, or any individual being reckless with taxpayers’ money, must be denied any access to such funds.
The Ireland Apple Escrow Fund was inaugurated in April 2018 housing €14.3 billion in due taxes and interest. While waiting for divergent court outcomes, the fund was handed over to professionals for its operation. They would have been thrilled, considering that their reward for managing the fund was nearly €6 million for 2023.
As per the data provided by gov.ie, the fund had diminished by €500 million to €13.8 billion at the concluding part of 2023, even amidst one of the most robust bull markets in history.
To assess this extraordinary performance, let’s consider what a rational investor would have done during these years. An extremely cautious investor might have chosen the Dow Jones Industrial Average, which would have generated €22 billion. Slightly more adventurous investors might have opted for the S&P 500, accumulating €25 billion.
However, investing that money in Apple itself would have delightfully ballooned the value to a staggering €67 billion by the end of 2023. Given the trend of pricing items based on the cost of Leinster House bike sheds, it would have represented a startling 200,000 sheds.
A vexing question arises. How much of the revenue from the Apple tax verdict will be diverted towards covering the legal fees incurred in attempting to disclaim these proceeds?
Also notable is the letter from September 11th. However, it is regrettable that €13 billion does not translate to a handsome €100,000 for every citizen. For that to happen, we would require around €500 billion, which would most likely entail the stringent taxing of all direct foreign investment firms. However, I am not overly optimistic about that transpiring.”]
Dear reader,
Before the hefty Apple sum is frivolously spent, could we consider updating the front of the bicyle shed? Sincerely,
JOHN POYNTON,
Wicklow.
Gentlemen,
With the unexpected financial boon from Apple, the country has essentially hit a jackpot. Couldn’t we use the surprise influx to correct some persistent issues?
Let’s finally allocate the necessary funds for paediatric scoliosis surgeries, bolster mental health service accessibility, establish comprehensive neurological services across the country, launch and revamp an effective Metrolink, and plan for an international airport in the Midlands. This airport could alleviate the strain on Dublin and make air travel more accessible nationwide.
Undoubtedly, there are more ingenious minds out there with additional beneficial long-term ideas for our citizens.
However, I feel obliged to issue a warning.
Our public institutions are notorious for their poor infrastructure management. Those who mishandled recent fiascos, like the children’s hospital, by failing to exercise financial oversight and accountability or show any respect for public funds, should be kept away from the Apple profit.
We do have competent architects, engineers, project managers, healthcare workers, teachers, urban planners, designers, artists, and visionaries in Ireland, with proven track records here and internationally. I’m certain they’d be glad to ‘suit up in green’ and offer their services for the betterment of the state. Sincerely,
STEVE PETHERBRIDGE,
Swords,
Co Dublin.
Gentlemen,
The arrival of Apple’s windfall into the public treasury offers a chance to transform the circumstances of children, young people, and all ages of those from various ethnic backgrounds who have been overlooked in low-income Irish communities.
Recent findings in poverty, income disparities, and living standards from the Economic and Social Research Institute (ESRI) reveal an uptick in the number of materially deprived children in our communities. This is a surprise considering our national coffers are flush and budget handouts are plentiful.
According to the ESRI, 230,000 children live in poverty today, a rise of 30,000 since 2022.
Denise Charlton, the Chief Executive of Community Foundation Ireland, remarked on the widening gap this is causing. “Entire communities now seem to be withdrawing from civic society, not just individual people and families. This leads to decreased life satisfaction levels, heightened isolation, and a fall in social engagement.”
A recent study from the Lancet Psychiatry Commission highlighted an alarming increase in mental health conditions among the young, amidst the unprecedented challenges they face. This report revealed that mental health issues account for nearly half (45%) of the total disease burden among individuals aged between 10 and 24. However, a mere 2% of health budgets are allocated for mental healthcare.
Our society is failing in adequately meeting the needs of our children and youth, particularly those hailing from low-income groups across different communities in Ireland. On a brighter note, Minister for Social Protection, Heather Humphreys, announced a funding exceeding €4.5 million in the previous January, aimed at combating desolation and vacancy in rural Ireland.
Projects being revitalised under this initiative consist of former Garda offices, educational institutions, post offices, community centres, eateries, public houses and void sites. These structures will be utilised for a variety of community purposes. This programme is invaluable, yet it represents merely a small fraction of the requirements of local communities.
The recent procurement of a €14 billion windfall presents a crucial opportunity to demonstrate significant ambition. This could be aimed at addressing the necessities of all members belonging to low-income communities in order to deliver a sense of belonging, ensuring their opinions are valuable and heard. This will allow for better interconnections among community members across urban centres, town outskirts, or even remote areas.
Kind regards,
Dr Catherine Conlon,
Ballintemple,
Cork.