Republican critics of Irish tax regime blocked legislation

Republican members of the US Congress have consistently blocked legislation that would clamp down on the type of aggressive tax planning that put Ireland in the spotlight over the past number of months, according to Trinity economics professor, Frank Barry.

Moreover, the US economy, as well as financial centres such as London, have come to rely on the huge flows of capital that are routed through tax havens, he added.

Mr Barry, who is one of Ireland’s leading experts on foreign direct investment, made his comments during a seminar about aggressive tax planning as part of Trinity’s Development Research Week.