‘Flood of companies’ to quit Ireland under Donald Trump's planned tax regime

One of Donald Trump’s top advisers has warned a “flood of companies” will leave Ireland under the president-elect’s planned new tax regime.

Stephen Moore, senior economic adviser to Mr Trump, said the centrepiece plan of the new administration was wooing back multinationals with radical business tax cuts.

“I believe that when we cut these tax rates — we’re going to cut our business tax rate from roughly 35% down to roughly 15% to 20% — if you do that you are going to see a flood of companies leaving Ireland and Canada and Germany and France and they are going to come back to the United States,” he said.