Finneran prioritises corporation taxes

In a meeting with a high-powered delegation from the Irish Business an Employer’s Confederation (IBEC) last week, the new Chairman of the Joint Oireachtas Committee on Finance and Public Services, Deputy Michael Finneran, outlined the safeguarding of Irish corporation taxes as one of his top priorities. Deputy Finneran told the IBEC delegates that the Tánaiste and Minister for Finance Brian Cowen TD has indicated that the National Development Plan will provide the basis for Government spending into the next five years and that the capital budget will be maintained. He invited IBEC to make a submission to the Committee on three key areas which are set to affect them into the future – Full implementation of the National Development Plan and regional development; the proposed Common Consolidated Corporate Tax Base; and Carbon taxes. Following the meeting Deputy Finneran said: ‘We had a frank informal discussion about issues that affect business people and employers all over the country including regional development, competition issues, and the need for constant up-skilling of the workforce. ‘I was grateful to the IBEC delegates, and in particular the President, Maurice Healy, for coming to Leinster House to discuss, at this stage informally, their needs and priorities with me and my fellow committee members. ‘As a rural-based Deputy I am keenly aware of the need for regional and balanced development and that is why I was glad to be able to reassure the delegates that the Tánaiste has given a commitment to the completion and implementation of the National Development Plan. ‘We discussed the issue of the Common Consolidated Corporate Tax Base at length and I am keen to make this area one of my priorities as Chairman of the Finance and Public Services Committee. It is in Ireland’s national interest that our corporation tax rate be defended and maintained to secure further Foreign Direct Investment.’ ‘Ireland must maintain its competitive edge and the advantage we have on our other European counterparts as a result of our Corporate Tax cannot be affected,’ he said.