Bono defends U2's tax arrangement: We are in 'total harmony' with Irish government's philosophy

Bono has made a fresh defence of U2’s tax arrangements, claiming the Irish government would ultimately appreciate the band’s decision to deposit a share of its multimillion-pound business offshore in the Dutch Antilles (AFP\Getty)

Bono has made a fresh defence of U2’s tax arrangements, claiming the Irish government would ultimately appreciate the band’s decision to offshore a share of its income through the Netherlands.

He rejected the accusation that it was hypocritical for him to criticise the government’s economic strategies in Ireland and blamed the “cranky left” for not appreciating the band’s position.

“U2 is in total harmony with our government’s philosophy,” he told The Observer. “Tax competitiveness has taken our country out of poverty. [The revenue] accept that if you engage in that policy then some people are going to go out, and some people are coming in.”

He added: “At the heart of the Irish economy has always been the philosophy of tax competitiveness. On the cranky left that is very annoying, I can see that. But [that] is why Ireland has stayed afloat.”