Fears over reliance of public services on corporate taxes

A leading economist has said the Government needs to explain to the public just how reliant public services are on the taxes paid by large corporations.

Jim Power made his comments after the 2016 Exchequer Returns showed the outsized contribution company tax is playing in funding public services.

Analysts have long said a small number of multinationals involved in re-arranging their global tax affairs via Ireland following an international crackdown has helped the State take in billions more in corporate tax receipts than it had anticipated over the last two years.