Ireland awaits G7 agreement on global tax for multinationals expected Friday

British Prime Minister Boris Johnson at a G7 meeting in London in early May 

G7 finance ministers from the world's seven largest economies are expected to agree on support for a global minimum corporation tax rate on Friday as part of talks being held in London between the group of wealthy nations.

The potential landmark tax reform has obvious implications for the amount in corporation taxes Ireland will collect from the multinationals and comes as governments around the world grapple with record levels of public borrowing incurred during the coronavirus pandemic.