Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

I have always argued that multinational capital is not quite as mobile as the Minister thinks. They make big investments and do not just run off and leave them overnight. The Government parties have argued that they have to get down on their knees and offer them zero-rate taxes. The rate is 12.5% in theory but in reality it is less than 1% for Apple, as we know. In reality, it is an effective rate of approximately 5% across the board for multinationals but the truth is they are making a lot of profits here, far more than anywhere else. They need access to the European market, by and large, they want to be in an English-speaking country and they need a skilled workforce. That is something the Government should be thinking about because we are falling down in that area. Our third level institutions are falling down the international league tables. We are putting fees in the way of people getting MAs and doctorates and so on. That is the kind of investment we need to make ourselves more resilient against the behaviour of the Elon Musks and the Donald Trumps of this world.

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