Sir, – The approval by the G20 of the OECD’s decision on a plan to force multinational corporations to pay a minimum global corporate income tax underscores the increasingly counterproductive isolation of Ireland on this issue.
In addition to showing very little agility in responding to today’s geopolitical realities, Ireland has undermined its hard-won credibility to the developing worlds exploited by tech giants and unduly strained its relations with its EU partners.
More worryingly, the decision not to sign the OECD’s plan shows a lack of confidence in Ireland’s ability to thrive in today’s digital, data-driven world economy. It is time to rethink the industrial model that has served us so well over the past 40 years. We need a new functional model for the next stage of our development.
It should be built on our creativity, ingenuity and entrepreneurship, not on low tax rates. It should use the once in a lifetime funds from the EU’s Next Generation Recovery and Resilience Facility to lay the foundations for a green, safe and sustainable future.
Investments should focus on cybersecurity, digital skills, digital networks and data infrastructures to support a new generation of businesses and public services.
The government’s priority should be realistic plans with pioneers and guarantees for growth, jobs and better services in the digital world of tomorrow. – your etc.
Dr. DECLAN DEASY,