EU marks the card for Finance Minister on carbon taxes, multinationals, and health spending

The European Commission has put down an early marker as Finance Minister Paschal Donohoe plans his autumn budget, recommending the Government cut back on tax reliefs, introduce more taxes such as carbon and reduce fossil fuel subsidies, and to continue reforms of the country’s corporate tax regime that has led to the exchequer tapping huge windfalls from multinationals.

The country-by-country report on Ireland is the last from the current European Commission headed by President Jean-Claude Juncker, tax commissioner Pierre Moscovici, and competition supremo Margrethe Vestager, who at an early stage of their term made it policy of urging serious tax reforms in Ireland.