Caoimhghín Ó Caoláin (Cavan-Monaghan, Sinn Fein)

Has the Government discussed these impending developments in US legislation with US authorities at any level? In the course of his recent visit to the United States did the Taoiseach refer to them in his conversations with President Bush or other key political players he met there?

The Minister has confirmed an awareness of developments in this regard in the United States and will keep a keen eye on them but are strategies to cushion the effect of the development described in my substantive question being considered by the Minister, his Department or Government? The Minister must agree that it is imperative we recognise the potential impact of such legislation and that we must not be unaware of the reality of the situation as it applies to many US based inward investors operating in this jurisdiction. In the region of 470 such employing entities exist in this economy with a workforce of approximately 92,000.

Will the Minister comment on some of the more negative views expressed by economists in periodicals and newspapers here regarding the expected effect of the passage of this legislation? Do such opinions encourage a proactive approach by Government to the matter to stave off the worst potential impacts of the legislation?

Does the Minister agree that the passage of this legislation will demonstrate that low corporation tax alone is a poor basis on which to promote this jurisdiction as an attractive location for inward investment from the United States and elsewhere? We need a broader basis to attract inward investment in the economy.

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