Thursday 22 March 2018

Richard Bruton: If we are to create badly needed jobs we must reduce rate of income tax

AS Jobs and Enterprise Minister, one thing you realise very quickly is that incentives work. Of course, this is the case across many aspects of our crowded and pressurised lives but in the job I have been tasked with, it stares you straight in the face every day.

The most obvious example is when I'm in boardrooms from Beijing to Silicon Valley. I know that the incentives Ireland offers in terms of talented, skilled workers, top-class technology and a low, transparent tax regime make us really competitive for mobile foreign investment. It is because of these incentives that last year Ireland had its best year in a decade in terms of growing jobs from inward investment from the likes of Google, Facebook, PayPal and Eli Lilly.

More generally, this government is acutely aware of the importance of the right incentives when trying to fix our economy and get people back to work. When we came into office we were determined to avoid one of the big mistakes made in the years before we were elected. Fully 80pc of the tax increases over the 2008-2010 period were on labour.

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