Ibec: Ireland should plan to cut 12.5% tax rate

The Government should consider cutting the 12.5% corporation tax rate, and prepare an “aggressive” strategy in the budget to prepare for any fallout from the decision of the UK to quit the EU, business group Ibec has said.

In a new policy document, the business group also advises the Government to temporarily secure a break on the EU spending rules and splash €1bn in building social housing next year.

It says a massive programme to build new social homes - the largest in the history of the State - is the only way to start to address the housing crisis.