Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

On the issue of corporation tax, the Minister has announced a review of its sustainability. One of the stand-out points made in the Irish Fiscal Advisory Council, IFAC, report was that somewhere between €3 billion and €6 billion of the €10.4 billion received last year could be considered excess or outside of the normal economic cycle. In other words, it may not be sustainable. If we had the perfect storm scenario in which the corporation tax receipts proved not to be sustainable at the same time that a no-deal Brexit occurred, we really would be in extremely serious difficulties. Will the Minister address IFAC's point? Does he accept its point that up to €6 billion of corporation tax may not be received again?

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