You might have missed it but Twelve EU countries, including Ireland, have blocked a proposed new rule that would have forced multinational companies to reveal how much profit they make and how little tax they pay in each of the 28 member states.

The UK abstained from voting. Their excuse? Purdah, because there is currently a general election pending. It wasn't the real reason for not voting, but it sounded great! The UK Government didn't vote, because they are tories and it would hit them and their members and donors!

However, one thing that did come out of this mess was something with regards to Ireland that every person in the UK in the run-up to the General Election should understand.

The Irish Fiscal Advisory Council (IFAC) warned on Thursday that the country’s economy has become so reliant on taxes paid by multinationals that half of all of the corporate taxes paid in the nation come from just 10 global companies.

Just think about that for a moment. In the wake of the 2008 banking collapse, caused by rich business people, the only way to remedy tax revenues was to acquisce to the same people who caused it and reduce their tax.

This has led to a situation where just 10 multinational companies account for half of the tax revenues. Why is this important?

Well you know what Boris Johnson has been banging on about with brexit? Dropping out with no deal. Going the WTO route? Etc?

Well that includes slamming the UK's tax to the floor for big business.

The only thing that happens in that circumstance is lower tax revenues and all of the large multinationals (with a small office here only) will flock here. You might think that's great until you actually stop and think for a minute and realise.

Ehhhhh wait a minute, 10 multinational companies will be responsible for half our tax revenues eventually.....in otherwords if they leave it would have the potential to crash the economy.....ergo.....

anything these large multinationals want, they just have to say to the UK Government: "Give us it or we'll leave" and under that kind of pressure, do you think the Government will advocate for you, or do you think they'll just acquiesce.

10 companies responsible for almost half of your economy and tax revenues? They'd be given anything they wanted, so much so that you can kiss goodbye to your public services in order to give them tax breaks when their claws are imbedded in our necks.