Dara Calleary (Mayo, Fianna Fail) | Oireachtas source

I welcome the introduction of the knowledge development box which has huge potential. I have always wondered about moving our investment in research and development into reality. The BEPS process is under way and may not finish for at least 12 months, but we have declared our hand right at the beginning of it. We have raised the white flag because of pressure from competitor countries for foreign direct investment. We have immediately rolled over and in so doing for the first time have shown a weakness in our defence of corporate tax. On Tuesday the Minister for Finance, Deputy Michael Noonan, defended the 12.5% rate, but the reality is that he rolled over very early on other elements of the BEPS process. This will be used against us by competitor countries in providing certainty for those who want to invest.

Is the Minister for Finance involved in the co-ordinated campaign of letters and phone calls referred to in The Irish Timestoday? Can the Minister describe the tone of the conversations he had yesterday? I understand that he cannot go into the specifics. What plans do the Minister and the Ministers of State in his Department have, apart from the scheduled trade visit to the United States in two weeks, to drive this message home?

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