Micheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

Yes. Has the Taoiseach an update on that?

With regard to taxation, did he have discussions with President Obama about Ireland's corporate tax regime? Last week, the Governor of California, Jerry Brown, used humour when he raised questions about our tax rates, but his comments were played back here and they were serious none the less. He said that California would be an independent state if it had Irish tax rates. He is ill-informed and I was surprised that there was not a stronger push-back from the Taoiseach and others, because we must be much more robust regarding our taxation structures. A one-sided debate has opened up on our corporate tax regimes and tax structures. Even people in this House are suggesting the country should apologise or should rush to amend its corporate tax regime. There are jobs in this country based on the regime. There are jobs in my constituency and in many other constituencies in the pharmaceutical, electronics and technology industries. We must be robust in this regard. Countries have different regimes and tax structures. We have higher taxes than California, for example. It has flexibility on tax that we could never have. Its VAT rate, for example, is 8.5%, while its top income tax rate is 10.5% for those earning in excess of $1 million a year. I would put it to Governor Brown that if the people of California had to pay our tax rates, they would be far from happy. We structure our tax code to encourage business and to attract inward investment. I cannot change the global order. I will not change what is happening in Singapore.

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