Enda Kenny (Mayo, Fine Gael)

The current corporation tax rate has been in place for some time. I was a member of the Government that introduced corporation tax, which has been a fundamental cornerstone of foreign direct investment. The Deputy is aware that for many years this country was the gateway to Europe as a result of the capacity, flexibility and productivity of its workforce. This was particularly true in the case of American investment. We helped open up the then Common Market, which eventually became the European Union, to such investment. The European Union has work to do in the context of developing the full potential of the Single Market, in which enormous opportunities exist for Ireland.

I do not share Deputy Higgins's view with regard to increasing the rate of corporation tax. Indeed, we will defend our 12.5% rate and I would regard any movement away from that as representing a massive breach of trust. That is not the way I do business.

I wish to make the point to Deputy Barrett-----

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