The Ansbacher scandal was described last night by Sinn Féin as "a massive scam" operated for years for the benefit of some of the wealthiest people in Ireland.
Their purpose was to hide their money in offshore accounts so they made no contribution to Irish society through taxation, said Mr Aengus Ó Snodaigh TD.
"Let's not forget all this was going on throughout the 1980s and 1990s when our people were suffering the worst effects of cutbacks in health, education and other public services," said Mr Ó Snodaigh.
While the country was being lectured about the need for belt-tightening, lower wages and reduced State spending, the "Ansbacher élite" was secretly hoarding tax-free money. While young people had to emigrate to London and Boston, the Ansbacher "circle of friends" enjoyed the high life in Ireland and exported their riches to the Cayman Islands.
Public services, in particular health, had still to recover from the cuts of that time, he said. The Ansbacher Report showed that some of those who could most afford to contribute to the public finances made sure they paid little or nothing: "They swindled the ordinary PAYE taxpayer who bore the burden of both tax and cutbacks."