Tax plans of 44th US president ‘will not devastate investment into Ireland’

THE election of a new US president will not have a devastating effect on foreign investment into Ireland, two leading US business figures have said.

Former economic advisor to former US President Bill Clinton, Robert Shapiro, said there would be no sizeable change in flows of foreign direct investment (FDI) as a result of a change in president.

“Foreign direct investment is not something you can turn on and off or pull in and out. It is a long-term investment,” he said.