Irish businesses reassured over Donald Trump tax plan

Irish businesses are being reassured over a new tax plan launched this week by US President Donald Trump.

The US has pledged to reduce its corporate tax rate from 35% to 15%, as part of a bid to encourage American companies to keep their operations at home.

IBEC's Fergal O'Brien said that although it could provide some competitive pressure for Ireland - but it could have been worse.

"It's probably not as significant as many people would have thought in advance," he said.

"In particular from an Irish perspective, I think it's really positive that the US is not pressing ahead with proceeding with plans for a border adjustment tax. That essentially would have been a levy and a tax on Irish exports into the US, and I think that would have been our main concern."