Ireland’s contribution to the EU has increased fivefold in the past two years, according to Meath West TD Peadar Tóibín. 

The Aontú leader has raised concern over the significant increase in Ireland’s net contribution to the new EU budget and has questioned the Taoiseach as to the basis
of this new contribution being made.

“It is startling that in two years, our annual net contribution to the EU budget has increased fivefold to €1.5 billion per annum. This contribution comes at a very bad time for Ireland. Our Economy is in major difficulty. Out Budget Deficit this year will be €30 billion. We are paying billions of euro on interest on one of the largest debts for any country per capita in the world in large part due to the decisions of the EU during the last crash,” he said.

Deputy Tóibín said that questions needed to be asked as to how Ireland’s contribution to the EU Budget was calculated.

“The key question is how is our contribution calculated? Is it a function of this country’s hocus pocus GDP?” he asked.

Ireland’s GDP has been described as “misleading” and as “leprechaun economics” because it is inflated by including assets and goods for export recorded by multinationals but not produced or adding value in Ireland.

Tóibín asked if the EU took Ireland’s “colossal National Debt or this year’s €30 billion Budget Deficit into account?” “What influence does the spike in our unemployment figures have on the figure? Or is our net contribution simply a function of this government’s poor negotiation skills?” he queried.