Dublin West Bye-Election candidate David McGuinness has said the rhetoric used by Socialist Party candidate Ruth Coppinger in TV3’s bye-election debate last night highlights the dangers a radical left TD would have on the business environment in Dublin West. 

Cllr McGuinness said: “Ruth Coppinger has again championed the prospect of raising corporation tax or of Ireland going it alone and introducing a new financial transaction tax.  These policies would have a hugely damaging impact on jobs and investment in Dublin West and for the rest of the country. 

“Stamp duty is already paid on transactions on the Irish Stock Exchange and this raised €2.5bn in over a seven year period to 2012.  It would be lunacy for Ireland to go it alone and introduce a new financial transaction tax.  The result would be nothing short of disastrous and thousands of jobs would be lost to other major European financial hubs like London and Frankfurt.

“There are over 10,000 jobs in Dublin West alone as a result of multi-national investors setting up operations here.  Employers like Symantec, IBM, eBay and PayPal are supporting jobs in this constituency because of the strong, consistent tax environment in this country. 

“The economic uncertainty offered by radical left candidates from the Socialist Party and Sinn Féin are not what Dublin West needs in the Dáil.  Uncertainty of our corporation tax jeopardises jobs already supported in the economy and is the wrong message we need to send to potential investors. 

“Ireland’s Corporation Tax policy is about one thing – jobs.  If I am elected to the Dáil next week I will not play games with people’s livelihoods and the platform Ireland needs to compete on the international stage for investment and job creation.  Our attractive tax regime has come under attack from other European countries and we’re seeing increased competition from the UK and the US.  I will defend our right to decide our tax policies here in Ireland.  We need a strong pro-business, pro-investment voice in the Dáil and this is not being offered by Sinn Féin and the Socialist Party.”