By Cillian Sherlock, PABillions of euros in tax receipts from Apple should be used to establish a state construction company, People Before Profit has said. The judgment restored a 2016 European Commission ruling that found Ireland gave undue tax benefits to Apple, contrary to EU state aid rules. On Monday, People Before Profit leader Richard Boyd Barrett said establishing a state construction company is the only way to deliver social and affordable homes at the required scale. The party argues that a state construction company would also be able to build homes cheaper than the private sector by cutting out land acquisition costs and the profit margin as well as reducing sales, marketing and finance costs. People Before Profit said close to €200,000 can be eliminated from the cost of building a three-bedroom home under such a mechanism.

Source: The Herald November 04, 2024 19:53 UTC