Global tax overhaul will weigh on Ireland's competitiveness, warn top bosses

Most business leaders want finance minister Paschal Donohoe to deliver a conservative budget, according to an Institute of Directors survey.

Finance minister Paschal Donohoe. Picture: Niall Carson/PA

Many top directors of Irish companies believe the overhaul of global tax will erode Ireland’s competitiveness and are urging the Government to focus on boosting broadband, housing, and energy supply rather than fuel consumption in the budget.

The survey of Ireland’s top bosses, carried out by the Institute of Directors (IoD), also found most directors believe it unlikely that the outcome of the tax reform talks, led by the Organisation for Cooperation and Development, will allow Ireland, along with other similar small countries, to keep corporation tax rates unchanged.