Monday 25 September 2017

Brian Brennan: Raising our tax rate would be a betrayal

Brian Brennan

THE challenges facing representatives of the Irish people in Europe this week might not have been quite so complex and formidable had bankers been straight with politicians from the start, and had politicians been more straight with the people.

First, Michael Noonan will meet his fellow eurozone finance ministers in Brussels and then the Taoiseach will take part in a summit of EU leaders on Thursday and Friday. They are supported by a sizeable staff of Irish civil servants based in Brussels.

Their missions? They need to ensure that the ECB will continue to fund our banking system; they have to convince the EU that the bailout deal agreed in November is impossible to implement and needs to be revised; they need to ensure that the EU and IMF will continue to support the Irish Exchequer until we can close the gap between tax take and spending; and, crucially, the assault on Ireland's 12.5pc corporate tax rate has to be repelled.

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