IBEC warns Britain may attempt to poach multi-national companies

The employers group IBEC have said Britain may attempt to poach multi-nationals like Google, and even major Irish firms, in the wake of the Brexit.

It is after the British chancellor George Osborne said he wants to cut their corporate tax rate to under 15%.

Finance Minister Michael Noonan is playing down the possible impact on Ireland, saying the move has been well flagged.

But CEO of IBEC Danny McCoy (pictured) said Ireland needs to stay competitive: “They will be aggressive trying to attract not just foreign direct investment but also Irish based companies to move to the UK.

“We need to ensure that we do not allow any competitive gains to the UK, they have them at the moment when it comes to personal taxes.”