Friday 2 December 2016

How did the Government shaft mortgage holders and taxpayers in one fell swoop?

The State may well have missed out on huge tax profits through its sale of distressed home loans

Stephen Donnelly

Published 10/07/2016 | 02:30

Questions to answer: Finance Minister Michael Noonan - the Government refused to let people bid on their own distressed mortgages Photo: Tony Gavin
Questions to answer: Finance Minister Michael Noonan - the Government refused to let people bid on their own distressed mortgages Photo: Tony Gavin

The Irish Government could be complicit in wholesale tax avoidance by foreign investment firms, which are generating huge profits in Ireland off the backs of Irish mortgage holders.

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Sarah and Dominic (not their real names) live in Kilkenny with their two children. They bought their home in 2007.

The shop Sarah worked in closed during the recession - she lost her job and they started to fall behind on their mortgage payments.

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