Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Fianna Fáil holds a different view to Sinn Féin on this issue. Ireland is competing with other countries, the UK in particular, for high potential start-ups and this is an issue in that regard. It has been raised by technology entrepreneurs in particular. These people are highly mobile and can decide to start or grow their business in any jurisdiction. The regime being introduced is a step in the right direction. The rate in the UK is 10% for entrepreneurs. The level here is quite low, a threshold of €1 million, but it is a step in the right direction. We should monitor the implementation of the measure to see if it can be enhanced in the future.