Hands off corporate tax rate, Germany
Published 13/05/2011 | 05:00
IT is reported that Germany is still insisting Ireland 'must give something' -- meaning an increase of our corporate tax rate -- in return for Germany's agreement to lower the EU's interest rate on the 'bailout' loan to Ireland.
Germany should be reminded that when Ireland desperately needed higher interest rates to suit our economy in recent years, this was not even up for discussion, as Germany's economic interests required very low interest rates. Additionally, it is the Irish taxpayer who, for years to come, will have to pay the high interest rates demanded by the EU on the 'bailout' loan for our banks, in order to save both the Euro as well as reckless German banks who 'took a punt' on the building boom in Ireland. EU solidarity and fairness now requires Germany to stop pushing Ireland 'to give something' and instead accept the handsome profit Germany will enjoy on interest charges to Ireland.
James J Ryan
Lisnagry, Co Limerick