Thursday 23 November 2017

Donald Trump praises Irish tax policy... but it's not all good news

Taoiseach Enda Kenny meeting US President Donald Trump. Photo: Gerry Mooney
Taoiseach Enda Kenny meeting US President Donald Trump. Photo: Gerry Mooney

Kathy Armstrong

US President Donald Trump has said he admires our low tax policy, saying: "Ireland's done a great job."

Trump claimed that high taxes are driving businesses out of the US with high taxes and that he hopes some would return if they were lowered.

Speaking to the Economist, he said Ireland was smart not to boost our taxes during the recession.

He said: "You look at Ireland. I own great property in Ireland that I bought during the downturn. And I give the Irish a lot, a lot of credit.

"They never raised their taxes. You know you would have thought when they were going through that really… they would’ve double and tripled their taxes. They never raised it a penny.

"And they got through it and they are thriving now. Ireland’s done an amazing job. A lot of companies have moved to Ireland and they like it."

But it wasn't all good news for Ireland as Trump pledged "we’re going to be getting a lot of companies moving back and we’re going to get very few companies leaving the United States".

"Because we went from the highest tax rate of…not only major, you know they always say major countries, just about the highest tax rate period. And then when you add all the other things.

"And then when you add the regulations to the tax…I’ve had people tell me, because I’ve cut massive regulations and we’ve just started, believe me. But we’ve cut regulations massively," he said going on to say that 90pc of people who have given him feedback have praised the changes to regulation.

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