Pearse Doherty (Donegal, Sinn Fein)
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The final point in that 2011 reasoned opinion was made in the context of the financial impact of the directive to national policies. It stated, "No EU legislation should be proposed that indirectly impacts on national sovereignty as a means of remedying any negative financial impact that flows therefrom." Whether we agree or disagree with it, this is an issue of national sovereignty, as Senator Conway-Walsh said. If we were to deal with this from an income tax point of view, we would be saying to the European Commission that it can set the bands or tax credits available to workers across the State. That is basically giving it away. We would always be allowed to apply the 20% and 40% rates, but it gives them the authority to change all the rules that affect us, which are really important. If the bands or reliefs are changed we will end up paying more or less tax. Is this not a sovereignty issue at its core? We will be handing power to the Commission - not for the first time because of VAT and other areas - for authority over the country's corporate tax system.