CRH role in Ansbacher criticised by Opposition

There was sharp criticism of the role of Cement Roadstone Holdings (CRH) in the operation of the Ansbacher accounts from Opposition parties in the Dáil today.

In a debate on the findings of the Anbacher report, Fine Gael’s Mr Phil Hogan said taxpayers within the State should not have to pay the €3.2 million cost of the investigation.

"I believe that it should be faced by two companies without whose involvement this scheme would never have got off the ground – Guinness & Mahon and CRH. I believe that both companies have a moral and ethical obligation to pay the costs of this investigation," he said.

Included in this should be an inquiry by the Competition Authority into the company’s dominant position within the State, said Mr Hogan.

"It is just five days since publication of the finding that the CRH head office was effectively the Bank Centre for Mr Des Traynor’s banking activity and that eight main board directors had Ansbacher accounts.

"The CEO has made a public apology and it is business as usual as far as they are concerned. I was nauseated to see CRH issue a statement yesterday trumpeting the fact that it was now spending €394 million on 'development initiatives' during the first half of 2002.

"Well there is one additional development initiative that they can take in Ireland – they can cough up €3m towards the cost of the Ansbacher inquiry and in doing so try to take their corporate reputation off the floor," said Mr Hogan.

The Socialist Party Leader, Mr Joe Higgins said the use of CRH offices for the banking activities of those running the Ansbacher accounts demanded that the company be further investigated.

The Green Party has called for the activities of CRH to be included within the remit of the Moriarty tribunal.

Sinn Féin said the company must be held accountable for their role in the Ansbacher scheme and also their wider role. "For years they have operated as a virtual monopoly in the cement and concrete business in this State, squeezing out by dubious methods those smaller companies they could not buy out.

Mr Aengus Ó Snodaigh said: "It is common knowledge in the industry that they are the beneficial owners of many businesses which they do not declare in their annual report and company accounts."

"Two CRH Ansbacher account holders, Tony Barry and Michael Dargan, were also board members of the Bank of Ireland. Questions must be asked about this crossover and the influence wielded by CRH in the banking sector."