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THE JOBS MINISTER has said that if America wants multinationals to stop leaving their country, they are the only ones who can make it happen.
Richard Bruton was responding to the comments of US President Barack Obama, who last night told CNBC that companies that come to Ireland to funnel profits back to America are “economic deserters”.
Speaking to reporters today, Bruton said that the problem Obama has lies in his own country.
“The only place this can be resolved is in the US. Ireland can do little. It’s under the US law that companies can do this. There are issues that need to be resolved.
“The solution to this doesn’t lie in Ireland, it lies in the US.”
He added that Ireland makes itself attractive to investors.
“Ireland provides an attractive environment for multinational companies who wish to invest substantively here, grow their businesses, and generate economic activity and jobs. Maintaining and improving this environment has been a key part of our recovery strategy.
“As part of our recovery strategy, we will continue determinedly to promote Ireland as a location for substantive multinational investment and jobs based on our track record, our talent pool, our technology capabilities.
“Our low, stable, transparent, statute-based corporation tax rate is one part of this strategy and we are absolutely committed to that rate. We are convinced that by continuing to implement our plan we can continue to rebuild our economy and attract the investment and job-creation we need.”
Reporting by Cliodhna Russell
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At last – a Minister with some stones in his boxers.
He might have to eat those boxers if O’Bama decides to amend US tax law as the Minister has recommended
Magically becoming Irish suits O’Bama when there’s an election looming
Well said minister
I see what you did there.
Bruton of course is not telling the full story. Truth is Ireland has entered into several deals and endorsed what amounts to a Three Card Trick Corporation Tax Regime. We pointed the risks of our flawed tax regime out to Enda Kenny on the day he became Taoiseach but received no response. Now several US Senators, the Californian governor and Barrack Obama are railing against Ireland’s behaviour. M/s Bruton & Kenny are fully aware of what is required to create real lasting jobs in Ireland. They won’t correspond or debate, these guys continue to erode the future of our children and the very socio-economic
fabric of out society.
We should announce we’re changing it and then lower it just to piss him off more.
It’s not the rate that matters it’s the allowance of royalties and other similar which are important
Obama can’t close them loopholes. If he does who is going to fund the midterm elections. He likes to talk like he wants too but he wont.
He is seeking the domestic redneck vote that is all. Like all politicians decieve as to the power they have and as to the amount thet really give an carp about the great unwashed.
Phil
You must have studied then economicks for a cosidderabke period!
So the ultimate bastion of capitalism is not happy with the ultimate expression of capitalism, i.e. avoid as much tax as possible. You reap what you sow
Spot on. It’s OBama’s problem to solve…
Bruton is a bit of a muppet if Obama sorts out the issue at home ireland will become a wasteland in the next 10yrs.
As I said previously with the EU and USA eventually going to push the irish government on the tax that will be it for ireland.
Prez Obama does not have the votes to do anything and when he loses the Senate he will have even less power.
He name checked Ireland as a home of inversions yet of the three recent attempted deals by Pfizer, Abbvie & Medtronic only 1 involved moving domicile to Ireland.
What Ireland ignores is this home truth: “What goes around, comes around.” Someday, when the multinationals move on, we’ll wonder what happened. (See the empty workplaces where our high labour costs drove out the companies!)
High Labour costs? What planet are you living on?
Minimum wage €8.65 add on employers prsi up to another 10.75%
= high labour costs
Household tax.
USC.
VAT rate of 23%.
Water tax.
Fuel tax.
PRD (public service)
€8,000,000,000 interest on gambling debt yearly.
Just to name a few. Good luck with trying to survive on €8.65/hour with a mortgage and family or maybe such things don’t exist in your ivory tower?
Next time Obomber turns up here he can pay for his own pint.
have your say