Brian Hayes (Dublin South West, Fine Gael) | Oireachtas source

-----they have good access to the European market, and we have become more productive and more competitive because of what has happened in this economy over the past five or six years. That is why US businesses are coming to Ireland and creating employment in this country. The Taoiseach continues to drive that investment pipeline and day in, day out the agencies are working hard to ensure the Irish success story is understood in the United States of America.

As to the argument of a tax haven, let us be clear that it is not the view of the US President. It is not the view of his Administration, of the Under Secretary of State for International Trade and of members of President Obama's Cabinet. This phrase about a tax haven in the case of Ireland is bandied about by some members of the US Senate and Congress. Why would the President of the United States entertain any visit to this country if we were an alleged tax haven? People need to realise that we should not get sucked into a game.

The same is the case for the British on this issue. Recently, the British, in their tax law, introduced a new royalty payment of approximately 10% - an extraordinary write-off for businesses. The city of London has very interesting ways in which subsidiary companies can fund other business, in terms of finance, at zero per cent. They have done that because of tax competition as well.

We should not be led by the nose, either by a US congressional committee or by the mother of all parliaments.

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