Noonan prepared to defend Ireland's Corporation Tax in court if needed

Michael Noonan says he is prepared to go to court to defend Ireland's Corporation Tax rate.

The Finance Minister has also signalled that, if he is to scrap the re-valuation of the Local Property Tax, it will be announced in October's Budget.

Currently householders pay the property tax based on valuations in 2013, but it is to be reviewed next year and Fianna Fáil says it is a timebomb for homeowners as property values rise.

Speaking at an Oireachtas Committee last night Mr Noonan revealed he is getting advice on possibly changing this re-evaluation which is currently set in law.

The Finance Minister has engaged former civil servant and expert Don Thornhill to look at this and other issues, and says if he is to make any changes he will announce them in October's Budget.

Minister Noonan also defended planned spending of more than €800,000 on consultants - including that spent on consultants on Ireland's Corporation Tax rate.

He said he wants to be fully informed and fully equipped with the international focus on this tax and that he is even prepared to go to "court if necessary" to defend it.