TD Michael Fitzmaurice commented today on the need to protect Ireland’s current corporate tax rates.
He made the comments today following European Commission President's Jean Claude Junker’s annual statement to the European Parliament yesterday. He said any attempt by the EU to change voting could see Ireland’s corporate tax rates raised.
"Any attempt by the EU to change the voting rules so a majority of countries could vote to raise Ireland's corporation tax rates to harmonise rates across Europe must be strongly resisted by the Government and our MEP's", he said.
He continued by stating that without Ireland’s current corporate tax that we would struggle to gain foreign investment into the country.
"Ireland is a small island nation and our corporation tax rates are one of the main reasons why Foreign Direct Investment comes into the country to aid the economy. Control over our own tax affairs is central to our economic policy and should not be tampered with in any way by the EU.”, he added.
He continued, “Jean Claude Juncker, who wants to change the voting rules so measures can be agreed by a majority rather than a unanimous vote, is an unelected bureaucrat and under no circumstances should he be allowed to dictate what should happen with regard to tax rates in Ireland or anywhere else for that matter"
Fitzmaurice said if this did happen then Ireland would have some serious challenges facing it as a nation and says it would lead to the questioning of the benefits of being in the EU. He said raising these taxes would mean we would have to give up on attracting foreign investment in the future.
"If this proposal were even to become a reality then Irish people would have some serious decisions to make with regard to our participation in the EU. The simple facts of the matter are that if our corporation tax rates are brought to the same level as exist in countries like Germany and others then we can forget about Foreign Direct Investment into this country. A lot of people might not like to admit that but it is true", he stated.
He continued by calling on the Irish government to stand up and be heard..
"It is time that our Government stood up to the EU and Mr Juncker and show their total opposition to this type of dictatorship. We set our own tax rates and that situation must continue into the future and our blunt message to Mr Juncker and the EU is we won't put up with dictatorship, and hands off our tax rates" he concluded.