Low corporation tax rate is legalised bribery

IN response to Robert O’Leary (Letters, December 3), I fully respect his right to challenge my views on corporation tax (November 26).

My reply is that if the Government doubled the already low rate of corporation tax, it would wipe out the budget deficit.

Comments about where I choose to live do not develop the discussion. In recent times some multinationals have closed or downsized in Ringaskiddy and Little Island in Cork Harbour.

Corporation tax was only one of the factors they evaluated in their decision.

The artificially low rate of corporation tax is no less than legalised bribery motivated by greed. It is simply old-style protectionism in disguise. It is no better than ‘hello money’.

A recent article (December 5) on a report from IBM’s Institute for Business said we “can no longer offer value for money to companies looking to locate here, so Ireland must instead work on the quality of its offering”.

Our best selling point is a well educated, technically competent, innovative and energetic workforce.

In the current financial apocalypse, the tax base must be broadened. Two million underpaid and overtaxed workers know at first hand that paying more income tax is not what they voted for.

Fair play demands a realistic rate of corporation tax. The end to the millionaires’ tax holiday is long overdue.

We have betrayed the million PAYE workers who marched nearly 30 years ago. If they had pressed home their demands then, Ireland today would be a country fit to live in.

Michael Mernagh

Carrigaline

Co Cork