Oireachtas Joint and Select Committees

Wednesday, 9 November 2016

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

Finance Bill 2016: Committee Stage

10:00 am

Photo of Michael D'ArcyMichael D'Arcy (Wexford, Fine Gael) | Oireachtas source

I concur with the two Deputies. It would be very helpful if we had such a debate or conversation, formal or informal, whichever way the Chairman wants to go with it. We are in a new dynamic. Deputy Doherty is correct about the pledge, but I remind him that George W. Bush made the same pledge during his campaign and did not fulfil it in an eight-year period. The economic cycle is having an enormous impact upon the political cycle. It is the first time anybody has been elected to the presidency of the United States who has not served before in government, executive office or the military. It would be a very good open opportunity for all of us to kick these matters about because there is a volatility. It comes not just from what happened in the United States last night, but also from Brexit, Northern Ireland considering reducing its corporation tax rate to the same level as ours and the UK saying it would do likewise, although it then pulled back. We do not know what other jurisdictions' options are, but they have options, and our options will have to be flexible as well. We should take the opportunity to discuss these matters.

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