Sunday July 5, 2020

Ireland must pay extra €280m to EU after "distorted" growth

Noonan tells Dáil increase will follow revised CSO figures

20th July, 2016
EU bill to rise Pic: RollingNews.ie

Revised figures from the Central Statistics Office (CSO) pegged Ireland's GDP growth for 2015 at 26 per cent – a dramatic 18-point increase on the originally estimated 7.8 per cent growth.

The increase, which experts said overstated 'real' GDP growth, arose after a small number of large multinational companies relocated assets to Ireland. The amount that member states contribute to the EU budget is, by and large, calculated based on Gross National Income, which itself is made up...

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