Fianna Fáil Spokesperson on Business, Enterprise & Innovation and candidate for Ireland South Billy Kelleher says protecting Ireland’s corporation tax rates is one of his key priorities.

He made the comments following the approval of a new report from the European Parliament which likened Ireland to a tax haven.

Deputy Kelleher commented, “My Party is steadfastly opposed to any moves from Europe or further afield which would undermine our corporation tax policy.  The 12.5% rate is the cornerstone of our industrial tax system and has to be protected into the future.

“Moves to undermine our competitive edge cannot be tolerated and I will be engaging with my colleagues in ALDE to ensure that they stand behind Ireland when it comes to ensuring the sovereignty of each Member State to set their own corporation tax rates, as is set down in the Lisbon Treaty.

“It is interesting to note that this report was co-authored by an EPP MEP – a member of Fine Gael’s European partners in Europe. I sincerely hope that this is not a sign that Fine Gael is prepared to negotiate on our corporation tax; any shift in policy would have serious implications for the economy and our ability to sustain and attract Foreign Direct Investment.

“Ireland must engage with Europe on corporation tax, but we must also remain steadfast in our opposition to any moves which would interfere with our 12.5% rate”, concluded Deputy Kelleher.