Mattie McGrath (Tipperary, Independent) | Oireachtas source

I do not support the amendment. I have to be honest and fair in this matter. I was arguing with the Minister last night about a land tax, which could have brought in a lot of money, and the situation where executives earning huge money get certain preferable tax allowances. The Minister tried to make the case that he had reduced such allowances greatly, which may be true. There are nearly 5,000 good FDI jobs in my own town of Clonmel. Merck Sharp & Dohme, MSD, is there nearly 50 years and we also have Boston Scientific, Abbott Laboratories and others. Those companies provide valuable employment and also offer spin-off benefits for the service and other industries which meet the needs of people coming to live in the area.

I am a big supporter of retaining the corporation tax regime as it is. The Minister alluded last night to the amount these companies pay in PRSI and other taxes, which is never mentioned. I completely support the retention of the 12.5% rate. It is a useful tool to have at our disposal. Other countries have different creative measures which they use to attract industry to their jurisdictions. What we have is an upfront and straightforward tax and we need to keep it, especially in these times when we must deal with President Trump's various opinions, ideas and schemes.

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