American Chamber of Commerce welcomes plan

The American Chamber of Commerce in Ireland has welcomed the publication of the four-year plan which "recognises Ireland’s corporation tax as a cornerstone of industrial policy in this country".

Joanne Richardson, Chief Executive of the American Chamber of Commerce in Ireland, said: "The removal of uncertainty concerning Ireland’s corporate tax rate and the clear statement that our tax rate is protected in an EU context by the principle of unanimity in taxation matters will reassure corporations planning future investment decisions.

It is estimated that global FDI will grow by 30% in 2012 and with the existing strong base of multinational companies here, this offers Ireland significant new investment opportunities.

"The maintenance of Ireland’s corporation tax rate will be the driver for export and employment growth. FDI accounts for €110bn or over 70% of total exports in the Irish economy, 240,000 jobs (100,000 in US multinationals alone), 55% of corporation tax, €19bn in direct expenditure, €7bn in payroll costs and 73% of business spend on research, development and innovation."