Dara Murphy (Cork North Central, Fine Gael) | Oireachtas source

I welcome the witnesses and thank them for attending. I apologise for being late. This meeting forms part of an interesting debate. Indeed, it is the core debate. According to the Nevin report, the witnesses' report and stated Government policy, we must arrive at a certain point. The question is how to get there and how quickly that should be done.

Luck was mentioned. It is linked with what level of growth will be achieved in Ireland and, more importantly, the countries to which we export. Were the witnesses' report implemented, would our levels of growth be damaged? We are bouncing along the bottom of an L-shaped economic pattern.

The fear would be that this might force us into further recession. There has been some discussion here even from colleagues in our party about corporation tax. It is important to repeat the comments of the Taoiseach, the Tánaiste, the Minister for Finance and the Minister for Jobs, Enterprise and Innovation that our corporation tax is not a subject for debate or discussion. Obviously the Irish Fiscal Advisory Council is free to have its own deliberations but I would hate it to waste its valuable time in any way. Politicians in the United States frequently advertise to their own corporations and to the world that Ireland is a country in which to invest in order to secure a reasonable level of tax for those seeking to export into the European Union. We welcome that promotion from our colleagues in America. However, it is not just about the 12.5% rate but also about us having an open economy. If it went to 15% or 13% or even if we started discussing it, it would be a serious dent in a massive piece of marketing ammunition we have. We are blessed that we have St. Patrick's Day and that we have a very low corporation tax rate. It is not just that I am saying it - it has been said by the Taoiseach, the Minister for Finance and other senior Ministers. It is also the position of the Opposition parties. We are very lucky to have it and, more important, to be known to have it. I compliment the witnesses on this interesting and comprehensive debate. It is a pleasure to be here.

It appears our Chairman, Deputy White, will not be returning to his position in this committee, following his promotion to Minister of State and I wish him luck.