Fine Gael has said it is "shocked" to learn today that there is little chance of successful prosecutions against some of those named in the Ansbacher report.
Fine Gael TD Mr Phil Hogan said: "Given the scale and the amounts of money involved, I am shocked and disappointed that the High Court Inspector has apparently concluded that there is little chance of successful prosecutions brought against some individuals and companies that are named in this report."
Mr Hogan called on the Tanaiste to co-ordinate the responses of the statutory bodies and Government agencies who may take action on foot of the report.
The Central Bank and the Revenue Commissioners came in for particular criticism from the party for their respective roles in detecting wrongdoing. Mr Hogan said the "inaction" of the Central Bank in dealing with certain financial institutions was a "damning indictment" of the Bank’s supervisory role.
He added that the report showed that the Revenue had failed to give a good service to the general body of taxpayers by failing to detect the wrongdoing of those involved.
Labour's spokesman on Enterprise, Trade and Employment, Mr Tommy Broughan said that the report provided final and indisputable confirmation that there was a 'golden circle' of rich individuals who conspired to defraud the Exchequer of tax monies.
He called for prosecutions to be brought for all cases of tax evasion, criminal conspiracy and breaches of company and banking law.
Sinn Féin TD Mr Caoimhghín Ó Caoláin said the report was an indictment of the failure of successive governments and the Central Bank to tackle massive tax evasion.
"The real question to be answered now is whether any action will be taken against the financial institutions who facilitated white collar crime in the Ansbacher scandal and other scams. If the Ansbacher report is not a turning point for the accountability of financial institutions then it will have been a wasted exercise," he said.