Ireland to Channel Apple's €14B Tax Payment into Infrastructure

Ireland plans to invest Apple's €14 billion back taxes into crucial infrastructure sectors like housing, energy, water, and transport. Finance Minister Jack Chambers announced that a spending framework will be approved in the first quarter of 2025.

Ireland plans to invest the 14 billion euros ($15.5 billion) that Apple has been ordered to pay in back taxes into housing, energy, water, and transport infrastructure, Finance Minister Jack Chambers told parliament on Tuesday.

"It is this government's view that we should utilise these revenues to address the known challenges that we face in housing, energy, water, and transport infrastructure," Chambers said.

The government will approve a framework for the spending in the first quarter of 2025, he added. ($1 = 0.9031 euros) (Writing by Conor Humphries; Editing by Jan Harvey)

(With inputs from agencies.)