Gerald Nash (Louth, Labour) | Oireachtas source

I welcome Mr. Cotter and thank him for his presentation. I apologise for arriving late but I read his statement.

It is fair to say that Ireland and the USA, from a business, social and cultural perspective, as well as a range of other perspectives, have a remarkably positive relationship, and long may it last. I was encouraged last week by some of the comments made by David Marcus of PayPal on his company's relationship with Ireland. PayPal, a subsidiary of eBay, has invested heavily in my constituency of Louth and in Blanchardstown as well. That represents a vote of confidence in the Irish economic recovery and in Ireland in general, and it ought to be welcomed.

I have no doubt the witnesses has been following the dynamic in recent years and they will have noted that there can often be tension within this complex and even within Government on taxation rates and the rate at which taxation for those who might be considered to be higher earners is set. The American Chamber of Commerce Ireland has previously welcomed the introduction of the special assignee relief programme, an important initiative to encourage business leaders and senior executives to locate in Ireland and to support the expansion of their companies, and this happens frequently. How determined is the American Chamber of Commerce Ireland to ensure there are no additional levies on those earning in excess of €100,000? I put the question because we would all be concerned if US companies decided to change tack on the focus on foreign direct investment in Ireland, and certainly that would have consequences. However, in terms of balancing the books in this country, some people may consider it reasonable to request slightly more from those who can afford to contribute more, and I imagine the delegation will understand that.

I listened to an interview with David Marcus from PayPal on "Morning Ireland" last week. He was asked specifically if the introduction of an additional 1% levy on those earning over €100,000 would in any way affect his company's interest in Ireland and its expansion plans and so on. He replied to the presenter that he did not think 1% would make a big difference. Mr. Marcus's case was more nuanced than that and we realise that it was a short radio interview. Will the delegation comment on the structure of our taxation system? Do they believe that if additional taxes, small though they might be relatively speaking, were introduced on higher earners, it would affect investment in Ireland?

The special assignee relief programme, SARP, provision has been significant. From reading the Chamber of Commerce Ireland pre-budget submission last year, I gather it would prefer the programme to be tweaked somewhat, especially in respect of the residency issue and other related factors. Will the witnesses elaborate on the taxation system and offer their views on how they see it evolving in the coming years?