We cannot have it both ways with tax policy

Nothing, it seems, lasts forever. This is as true in economics and finance as it is in life generally. While we cannot stop the onward march of change, we can, and should, consider if we are planning for this.

Over the last two weeks we have seen the beginnings of the end of the present Irish macroeconomic business model. This has come about consequent to the growing concern, crackdown and outright confusion on international corporate tax.

When your country is being labelled (however fairly or otherwise) a tax haven in the US Senate, and when a large part of your (apparent) success is at least in part dependent on the underlying features that give rise to that description, then the writing is on the wall, the floor, the ceiling and around the wainscoting.