Ms Cora O'Brien:

It is a matter of US policy that since the 1950s it has had a policy of trying to encourage its multinationals to expand abroad. The US tax policy has followed that economic policy. US tax policy is driving multinationals to structure in certain ways and if the US Government really wanted to change this it could change its own laws and it could change the tax deferral rules in the US. If that were done then there would be no advantage to multinationals in having income that is not repatriated to the US. There is some heat being applied but the US has the power within its own control to change the regime fundamentally that would change not just what multinationals are doing in Ireland but also throughout the world. That US tax reform does not seem to be happening for whatever reasons which may be political - others are more expert in that field than me. There needs to be some focus in that direction as well.