Brendan Keenan: Corporation tax saved us -- so hands off, Brussels
Published 05/10/2010 | 05:00
HANDS off our corporation tax! That should be the message to Brussels and Berlin. If they want to see why, they could look at the Exchequer returns for the first nine months of the year.
Not a pretty picture, to be sure. The cost of running the country exceeded available revenues by more than €13bn, which is close to €40m per week. But that was no worse than had been forecast at Budget time last December.
From the point of view of the Department of Finance, that counts as a result. The day was saved by what might be called a late goal from corporation tax, which is levied on company profits.