Gerry Horkan (Fianna Fail) | Oireachtas source

At the Committee on Finance, Public Expenditure and Reform, and Taoiseach, we have been discussing the taxation of the digital economy proposals from the EU, as well as the common consolidated corporate tax base, CCCTB, proposals in the past.

Will the Taoiseach give his thoughts on that? There are a couple of reasons for asking. We have a significant digital presence in Ireland and there will be a significant gap in EU finances as a result of the UK's departure and the EU may be looking for ways to generate more revenue. The Taoiseach might address our reliance on it. It is not necessarily an over-reliance but we are vulnerable to the amount of corporation tax we get from a small number of people. Approximately 80% of total corporation tax comes from foreign direct investment, FDI. Approximately 70% of that is from the USA. It is all welcome. Approximately half of the FDI generated tax is paid by ten companies. Google did not exist 20 years ago and we hope it will be here in 20 years. Industries and companies come and go. What are the Taoiseach's thoughts on how reliant and dependent we are on a small number of companies for a significant amount of our corporation tax yield?