Newly elected TD for Dublin Bay South Eoin Hayes (second right) with Social Democrat TD Jennifer Whitmore, Social Democrats deputy leader Cian O'Callaghan and Dublin Central TD Gary Gannon at Leinster House, Dublin(Image: Cate McCurry/PA Wire)

Eoin Hayes will not be paid €37,000 allowance following Social Democrats suspension

11 Dec 2024, 18:00 by Darragh Mc Donagh · Irish Mirror

Eoin Hayes will not be eligible to receive a €37,000 allowance payable to all non-party TDs when he takes his seat as an independent in the Dáil next week.

Independent deputies are paid the Parliamentary Activities Allowance in addition to their €113,678 salary and other expenses, and are permitted to spend it on a wide range of expenditure categories including entertainment and research.

However, Mr Hayes is set to miss out on the allowance despite spending only nine days as a Social Democrats TD before being suspended by the party yesterday over his handling of a controversy surrounding his sale of shares.

He admitted yesterday that he provided incorrect information in response to questions from the media about when he sold shares in US-based software firm Palantir.

Having initially stated that he sold the shares before he was elected to Dublin City Council in June, he later clarified that he actually sold them in July for €199,000 before tax.

New TD Eoin Hayes of Dublin Bay South at a Social Democrats press briefing at Leinster House(Image: Stephen Collins/Collins Photos)

Palantir supplies technology to Israel and the Israel Defence Forces (IDF) that is used in the ongoing war in Gaza. Mr Hayes previously worked for the company, and received the shares as part of his compensation package.

It is understood that he sold his shares when they were trading around $29 per share. If he had held onto his stake for another five months, it would have been worth around €485,000.

Having missed out on nearly €300,000 by disposing of his shares five months earlier, and being suspended by the Social Democrats for saying he sold them one month later, he now stands to lose out on the €37,037 allowance as well.

A spokesperson for the Department of Public Expenditure confirmed to the Irish Mirror that TDs must have been elected as independent candidates in order to be eligible for the Parliamentary Activities Allowance.

TDs who are elected as party representatives and subsequently become independent deputies are not permitted to receive the allowance, the spokesperson confirmed.

In a statement yesterday evening, Mr Hayes apologised to the Social Democrats and those who voted for him in the general election on November 29.

“I made a mistake. It wasn’t intentional, but nonetheless, I failed to provide accurate information regarding the exact date on which I divested my shares,” he said.

“The public has every right to expect their representatives to provide honest and precise information, especially when questioned by the press. I let myself and my party down today, and for that, I am sorry.

“This will not happen again. I’m new to politics and the spotlight that comes with it, but that’s no excuse. I made a mistake, and I take full responsibility.”

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