Joan Burton (Dublin West, Labour)

Has the Minister read recent commentary indicating that the economy is softening? A number of forecasters have suggested a revised figure for economic growth of 3.5% for this year. What would be the implications of such a development? Yesterday's Exchequer figures, for instance, showed an increase of approximately €1 billion in VAT receipts, whereas revenue from corporation tax and income tax, once the special collections by the Revenue Commissioners are subtracted, is softening, particularly as regards the former. Has the Department carried out an analysis of the reason for the decline in corporation tax? What are the implications? While American multinationals are big players, what is the impact of the continuing strength of the dollar on the Irish economy, corporation tax outcomes, and employment in the multinational sector in this country?

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