Budget 2017: ‘Competition has never been stronger’

Every day in Ireland, more than 187,056 people go to work in an overseas company. IDA’s latest results show us that more than one in five private sector jobs (318,000) in the economy are supported either directly or indirectly by FDI, representing a vital economic contribution by the multinational sector.

Ireland has an enviable track record in foreign investment, upon which IDA Ireland is committed to building. Competition for foreign investment has never been stronger and countries are adjusting their proposition for investors on a daily basis. There are several welcome developments in the budget.

Firstly, a lot has been said about Ireland’s corporate tax rate and the regime in recent months. Finance Minister Michael Noonan clearly outlined that Ireland will not be changing the 12.5% tax rate, nor have there been calls for it to be changed. The stability of the 12.5% rate is a key factor for our investors. It is important that Ireland’s commitment to the rate was restated in a budgetary context.