Oireachtas Joint and Select Committees

Thursday, 3 June 2021

Committee on Budgetary Oversight

Budget Priorities Exiting Covid-19 Pandemic: Discussion

Photo of Mairead FarrellMairead Farrell (Galway West, Sinn Fein) | Oireachtas source

I thank Ms Rogers. Unfortunately, I only have two minutes left so I must move quickly on but what she said was interesting.

Dr. Kinsella recently wrote: "It would be unwise to bet the house on corporation taxes bringing us into the black". In the context of global tax reform, which the Government is assuming will reduce corporation tax receipts gradually by €2 billion, IFAC noted the impact could be faster and greater and the IMF has recently raised concerns on that as well so I am interested in Dr. Kinsella's view. Does Ireland need to begin preparing an alternative industrial strategy, one which creates an indigenous high value-added sector that can open up new revenue streams to offset potential losses in the FDI sector? What are his views on the' new proposals from the US for a 15% global minimum tax, rather than the original 21% first mooted?

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