Imelda Munster (Louth, Sinn Fein) | Oireachtas source

As the Minister of State is aware, the State is overly reliant on a fairly small number of multinationals for a significant portion of its tax take. Last year, 45% of the total corporation tax take came from just ten companies and foreign-owned multinationals paid 77% of the corporation tax receipts for last year. This would leave our public finances very vulnerable to any sudden economic or political change and the European Commission has also raised concerns about this fact. The regime also leads to a regional imbalance, as those of us from outside of the cities know all too well. In order to develop our indigenous businesses, we need to strengthen the LEOs and increase supports. The Minister of State said the Government gave an additional €5 million but there is a lack of State support for non-FDI, non-exporting companies and in regions other than Border or Gaeltacht areas. The local enterprise offices across the country support small businesses with grants and assist entrepreneurs. Does the Minister of State agree they need strengthening?

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