Why is the date of Eoin Hayes’ shares sale so important for the Social Democrats?

Eoin Hayes has been suspended from the Social Democrats just two weeks after being elected for the first times as a TD – but why?

Between 2015 and 2017, Dublin Bay South TD Eoin Hayes worked as a strategist for US data firm Palantir Technologies which builds “platforms for integrating, managing, and securing data”.

The firm’s clients include the Israeli Defence Forces.

When elected as a councillor in June this year, Deputy Hayes wrote in his declaration of interests that he had received company shares as part of his remuneration package at Palantir.

He said he had sold these shares before getting involved in politics.

On The Hard Shoulder, Irish Daily Mail political editor Craig Hughes, who originally broke the story relating to the Eoin Hayes’ shares sale, said the date of this sale is “crucial”.

“The reason why this date (July) is crucial, is if you go back to November 2023 Holly Cairns, the Social Democrats leader, stood up in the Dáil and said that inaction in relation to Gaza is complicit with genocide, as she called on the Government to divest themselves completely from Israeli companies,” he said.

“So, you can't in one breath criticise the Government for inaction in relation to Israel and Gaza, while at the same time, one of your party members [is profiting] from a company whose share price, by the way, has increased exorbitantly since October 7.”

Mr Hughes said the issue is one of “political hypocrisy”.

“If you look at the Social Democrats line on this, go back to November 2023, where they're saying that the state should divest themselves from companies involved in Israel,” he said.

“At that point, he still had the shares, he held on to them.”

Bad start

Mr Hughes concurred that this is not a great start for the Social Democrats leader Holly Cairns.

“I thought it was inevitable, to be honest, from the moment I broke this story, because they've really ratcheted up the rhetoric in relation to Israel and Gaza and they've been to the forefront of criticising the Government for what they say is inaction in that area,” he said.

“So you just simply were never going to have a scenario whereby they would be able to defend this position.

“It dragged on now for about a week and I think today they finally realised that they weren't going to be able to kick for touch and let it blow by.”

"23 times'

Mr Hughes said this morning at a press conference the now-suspended Social Democrats TD was asked 23 times about the date of the shares sale, refusing to answer.

“I think it's important to say that, you know, we've had several days of them refusing to answer the questions now,” he said.

“23 times he was asked when he divested the shares - he gave a variation of answers.”

Hours after the press conference, it was revealed that Mr Hayes sold the shares in July of this year, after becoming involved in politics, and that he, pre-tax, received €199,000 for the shares.

Mr Hayes has since been suspended from the Soc Dems party.

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The Social Democrats Parliamentary Party on the plinth at the Dáil to showcase their re-elected and newly elected TDs. 10/12/2024 Photo: Leon Farrell/© RollingNews.ie