OECD’s global corporate tax plan

 

Sir, – The G20 endorsement of the OECD’s decision on a plan to force multinational companies to pay a global minimum corporate tax underlines Ireland’s increasingly counterproductive isolation on this issue.

In addition to displaying very little agility in reacting to today’s geopolitical realities, Ireland has undermined its hard-won credibility with developing countries that have been exploited by the tech giants and has unnecessarily strained its relations with its EU partners.

More worryingly, the decision not to sign up to the OECD’s plan reveals a lack of self confidence in Ireland’s capacity to thrive in today’s digital, data-driven global economy. It is time to reassess the industrial model that has served us so well for the last 40 years. We need a new model fit for purpose for the next stage of our development.

It should be built on our creativity, ingenuity and entrepreneurship and not on low tax rates. It should use the “once in a lifetime” funds from the EU’s “Next Generation” recovery and resilience facility to lay the foundations for a green, secure and sustainable future.

Investments should focus on cybersecurity, digital skills, digital networks, and data infrastructures to support a new generation of businesses and public services.

The Government’s priority should be realistic plans with enablers and safeguards for growth, jobs and better services in tomorrow’s digital world. – Yours, etc,

Dr DECLAN DEASY,

Castlebellingham,

Co Louth.