Ross reveals undeclared holdings in State bonds

THE INDEPENDENT Dáil deputy Shane Ross has submitted a statement to the Oireachtas setting out holdings in government bonds dating…

THE INDEPENDENT Dáil deputy Shane Ross has submitted a statement to the Oireachtas setting out holdings in government bonds dating back to 2008 that were not previously registered.

The statement was submitted to the Clerk of the Seanad earlier this week by Mr Ross and covers the period between 2008 and 2010 when he was a Senator.

He was elected a TD for Dublin South in February this year.

Mr Ross, who declares an interest in a very large portfolio of shares each year, said he had not included government bonds until now because he believed there was no requirement to.

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Under the Ethics in Public Office Act, Oireachtas members are required to submit their interests in businesses, properties, shares, debentures and similar holdings by January 31st each year.

Mr Ross’s supplemental statement this week corrects his omission from 2008 to register his interest in six different government bonds, in Ireland, Germany and France.

The minimum value for the holdings to be registered, under ethics legislation, is €13,000. Mr Ross jointly owned all the bonds with his wife, Ruth Buchanan.

Mr Ross told The Irish Timesyesterday nobody had ever declared government bonds in the past and there was no specific reference to them in the ethics legislation.

Harry McGee

Harry McGee

Harry McGee is a Political Correspondent with The Irish Times