Raising corporation tax will bring back Celtic Tiger

The Irish economy earned itself the title ‘the Celtic Tiger’ for its spectacular growth between 1995 and 2007.

The Celtic Tiger is now being widely regarded as tamed and toothless. The Tiger’s best hope now is to lean on the companies that have for so long enjoyed riding on its back.

The Irish economy’s current predicament derives from three factors: access to cheap money due to low interest rates (set by the European Central Bank), low taxes, and government real estate policies that created market distortions. These factors fuelled a real estate bubble, subsequently followed by a crash and the ongoing European debt crisis.