GOODMAN’S BEEF EMPIRE IS DODGING TAX

Press Release for immediate publication 14/03/2019

GOODMAN’S BEEF EMPIRE IS DODGING TAX

News of British tariffs on Irish food products has caused grave concerns among farmers and workers. But one company is well insulated. Larry Goodman’s ABP Foods group has been tax dodging for years –while taking huge EU grants.
Adrienne Wallace is the European Election candidate for Ireland South and a local election candidate in Carlow, she says it is time to end the “hand out culture”.

Ms. Wallace added, “Two key companies in the Goodman Group, Parlesse Investments and Silverbirch Investments, are located in Luxembourg for tax reasons. They give out loans to other subsidiaries in the group and use the interest charged to write down the tax bill. Parlesse made a profit of €64 million in 2016 and paid a tax of just €165,000. That is a tax rate of 0.25%.

Meanwhile Goodman is the largest recipient of EU grants because he owns two huge farms with thousands of cattle. In 2016, he received a hand-out of €430,000 from the EU. This gravy train has got to end. As part of my European campaign I will be calling for an end to the rule of big farm monopolies. We need to see more supports for small and medium farmers.”

Ms. Wallaced added, “Before he got elected as Taoiseach, Leo Varadkar ran a major campaign against ‘welfare cheats’. After he became Taoiseach, Department of Social Protection officials admitted that this was just a PR stunt. The real tax cheats in this country can be found in the corporate sector – but Varadkar says nothing about them.
We need to end the hand-out culture of the old boys club and fight for a politics that is focused on equality. Brexit shows that Irish agriculture needs to re-orientate away from beef production. Climate change is another good reason for doing this. But let’s start by tackling the beef barons who get huge hand-outs while dodging taxes.”

ENDS – For more information contact Adrienne on 086 311 9991