John Perry (Sligo-North Leitrim, Fine Gael)
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Question 68: To ask the Minister for Finance his latest assessment of tax changes in the USA which might adversely affect Irish interests; and the initiatives he has taken to try to pre-empt such moves; and if he will make a statement on the matter. [19089/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The Deputy will be aware that on 4th May last the US Administration announced proposed changes to the so called system of tax deferral. The announcement of these changes, which had been flagged by the Obama Administration, represents the beginning of a process that will involve detailed discussion and debate in both Houses of Congress.

The US Administration has signalled clearly that they are very conscious of the need to maintain the competitiveness of US companies operating globally and in that context the Government will continue to engage with both the US Administration and with Congress as the debate develops.

The Government and I attach the highest importance to strengthening the economic partnership between our two countries, a partnership that has contributed enormously to the very significant trade and investment between the two countries. We have a common interest with the US Administration in keeping strong that partnership that has served us well up to now. My Department in conjunction with the Department of Enterprise, Trade and Employment and the IDA will be working in close collaboration with the Embassy in seeking to address the various policy proposals. In that respect I want to assure the Deputy that the Minister for Foreign Affairs, through the Embassy in Washington, has been monitoring and responding to all proposals for policy initiatives which could potentially impact on the Irish economy.