Cutting tax rate - Race to the bottom

The employers group Ibec wants the Government to consider cutting Ireland’s 12.5% corporation tax rate in response to the UK’s plan to cut their rate to 15%.

Britain has already come under attack as a result from France and Germany, which are concerned that the UK will be tempted to establish itself as a low-tax offshore jurisdiction on the fringes of the EU.

The Taoiseach has already demonstrated how seriously he views the situation by setting up a new division in his department and chairing a new Cabinet committee to deal with the implications of Brexit.