Lisbon Treaty has nothing to do with our corporation tax rate

IN his letter (April 24), Brian Geoghegan tries to contend that the Lisbon treaty will bring about common corporate taxes in Europe.

As a member of the economics committee of the European Parliament, I can assure readers that tax harmonisation is not on the way in Europe.

For Mr Geoghegan to argue that our low level of corporation tax distorts competition is a fallacy. EU member states are free to set their own corporation tax levels. The Cypriot level stands at 10%, which is even lower than the Irish rate.