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

In his reply to my question the Taoiseach says the Prime Minister, Ms Theresa May, did not mention the corporation tax issue to him. Did he discuss the matter with her in any shape or form? With other elements, Ireland's corporation tax rate has been an important and significant element of our industrial policy for more than 30 years in attracting inward investment. It is something Ireland has sought to protect in international agreements. It was, for example, attached to the protocol to the Lisbon treaty when the issue was raised during the referendum. In the first referendum many people who were against the Lisbon treaty and the European Union actually insisted that the corporation tax rate was in jeopardy and that our tax sovereignty could be eroded.

The second time around we negotiated and attached a protocol to the Lisbon treaty, ensuring the corporation tax rate was a matter for Ireland.

We now face significant competition in this regard. Northern Ireland is anxious to reduce its corporation tax rate, and had been prior to the Brexit vote. The United Kingdom is now indicating it could head to 16% or 15%. The United States, under the new President, is also indicating this. Does the Government have any plans with regard to these decisions being made by others, which they are entitled to make, and our industrial model for the next ten to 20 years? Has the Government commissioned any work or research on developing a new enterprise strategy or a new approach, given the fairly fundamental changes that are occurring, not least the Brexit decision itself which represents a fundamental structural change with regard to our economic model? It will change dramatically the model we have experienced for almost 50 years, since we joined the European Union. There is a need for fresh thinking in this regard. I would appreciate if the Taoiseach indicated whether the Government has seriously considered developing a new radical approach to enterprise and a strategic approach in this regard?

See this speech in context