How will the Irish government spend Apple’s €14bn?
Published On Sep 15, 2024, 2:20 AM
The EU's highest court has mandated Ireland to collect €14 billion in back taxes from Apple due to an illegal tax deal, presenting the Irish government with a significant windfall. The government is considering how to utilize this amount. Options include paying down national debt, which would reduce it by nearly 8%, investing in infrastructure to address significant needs in energy, water, and housing, or establishing a sovereign wealth fund to support economic stability and achieve a target of €100 billion by 2035. However, there are concerns about inflation and lack of available workers for large infrastructure projects.