Monday 5 December 2016

How Trump plans to take jobs back from Ireland to US

Radical tax plan will see 'flood' of multinationals leave

Niall O'Connor, Colm Kelpie and Laura Larkin

Published 11/11/2016 | 02:30

President-elect Donald Trump meets US President Barack Obama in the Oval Office of the White House in Washington. (Photo by Win McNamee/Getty Images)
President-elect Donald Trump meets US President Barack Obama in the Oval Office of the White House in Washington. (Photo by Win McNamee/Getty Images)

A top economic adviser to Donald Trump has warned that the incoming president's new tax plans could see a "flood of companies" leaving Ireland.

  • Go To

The Government is facing urgent calls to act swiftly to protect US investment in Ireland after comments by Mr Trump's senior aide Stephen Moore.

The threat issued by Mr Moore sent shockwaves through political circles yesterday as the fallout from the US presidential election continued.

Just hours after Mr Trump held a 10-minute phone conversation with Taoiseach Enda Kenny, his economic adviser revealed Mr Trump's plans to lure multinational companies back with radical tax cuts.

"I believe that when we cut these tax rates - we're going to cut our business tax rate from roughly 35pc down to roughly 15pc to 20pc - you are going to see a flood of companies leaving Ireland and Canada and Germany and France and they are going to come back to the US," Mr Moore said.

Government sources said Mr Trump praised Ireland's economy during his brief conversation with Mr Kenny.

The warning came as Mr Trump met President Barack Obama in the White House. Mr Trump said he looked forward to receiving the outgoing president's "counsel".

Irish Independent

Read More

Promoted articles

Editors Choice

Also in World News