UK’s post-Brexit corporation tax plan raises alarm in Ireland

Alarm has been raised here after chancellor George Osborne told the Financial Times, in his first interview following the shock Brexit vote, that the UK now aimed to offset any slowdown in Britain by cutting its corporation tax rate all the way down to 15%.

The UK had previously planned to cut its headline company tax to 17% by 2020 from the current 20% level.

Finance Minister Michael Noonan has said that any effects on Ireland, such as luring big investments into Britain and away from the Republic, will depend on the way the UK constructs the component parts of the tax.