Tony McLoughlin (Sligo-Leitrim, Fine Gael)
Link to this: Individually | In context | Oireachtas source

1173. To ask the Minister for Jobs, Enterprise and Innovation if large multinational companies which wish to relocate here and will avail of our 12.5% corporation tax rate could be approached in order to help to play a part in resolving our current housing crisis, especially in County Dublin, where these companies wish to set up; and if she will make a statement on the matter. [9607/16]

Mary Mitchell O'Connor (Dún Laoghaire, Fine Gael)
Link to this: Individually | In context | Oireachtas source

Multinational companies have been key contributors to Ireland’s economy for many years. In 2015 alone, they were responsible for the creation of nearly 12,000 additional net new jobs in the country. Total employment by overseas companies in Ireland now stands at over 187,000, meaning that more than one-in-five private sector jobs are now either directly or indirectly the result of foreign direct investment.

While this already represents a vital economic contribution, the Government is committed to growing the multinational sector even further. That is why IDA Ireland has set ambitious targets of securing 80,000 new jobs, winning 900 further investments and increasing companies’ expenditure on research and development to €3 billion by 2019. The Government’s view is that these goals can be best achieved if multinational companies in Ireland focus on what they do best: expanding their core business, creating jobs and opportunities and investing in the local economy.

Solving the housing crisis will be a priority for the Government. That is already evident in the appointment of a Minister for Housing. Multinational companies will play their own part in this process by improving the State’s economic position through contributing to the exchequer and creating employment across the country. In 2014, IDA client companies paid a total of €2.8bn in company taxation to the exchequer, which represents a very significant direct financial contribution to the national finances.