SF’s corporation tax policy a threat to economy
Sinn Féin’s pledge to increase corporation tax would remove a vital incentive to attract multinational companies.
The reductions in corporation tax to the current low rate of 12.5%, implemented by Fianna Fáil in government, have helped significantly to create record levels of employment. This far-sighted policy has also yielded over e5 billion in revenue, up from €2 billion when the rate was 36% in 1997.
Sinn Féin has chosen to ignore the obvious benefits of keeping corporation tax low. It is their policy now to increase the rate initially by 5%. Such an approach could prove detrimental to our economy. Many multinational firms moving to Ireland in recent times have done so on the basis of our 12.5% rate.
The prospect of a government with a Sinn Féin hue raising corporation tax to 17.5% sends out a signal that our economic policy cannot be trusted and that Ireland is not a place to make long-term relocation plans.
No wonder the Taoiseach said in November that Sinn Féin’s economic policies would “surrender Irish workers to unemployment and emigration” and that he took the sensible step of ruling out any coalition arrangement with that party.
Pat Carey TD
Leinster House
Kildare Street
Dublin 2
