Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I do not comment on the tax affairs of any particular company, nor will I do so now. I did not say, although I could have made the case, that companies locate here due to the quality and number of our workers. While I could credibly have made that argument, all I asked the Deputy to acknowledge was the fact that the investment strategies of which he is so critical have led to the employment of tens of thousands of people, particularly in Dublin. I asked the Deputy to acknowledge that, in Dublin alone, over 88,000 people are employed in the companies attracted by policies pursued here.

The recent article by John FitzGerald in respect of this matter is very interesting. While that article looked at issues around profit sharing and the movement of profit across the world, the Deputy underestimates in his analysis the effect of American corporate tax changes on the global tax playing field. They will have a significant effect because they will change the incentives available to companies regarding where they locate profits and how they repatriate them. As those changes happen, Ireland will continue to be competitive. Much of the engagement I have had over the last number of weeks points to that. However, those US policies mean the global tax environment is being changed. As to sustainability, this is why I gained Cabinet agreement yesterday to a number of further changes in our corporate tax code as part of the OECD process to deal with global issues and concerns.

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