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Do we need a new Shannon Scheme?

later12 · 2010-11-20 16:14:53

The 10% Shannon Scheme, along with the manufacturing and IFSC corporation tax rates ended in 2003. Although I think the issue would meet strong disapproval from the European Union, even a veto if such a thing were possible, I think the idea should be examined. Like all countries on their knees, at the moment we are,…

20-11-2010 4:14pm

#1

later12

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The 10% Shannon Scheme, along with the manufacturing and IFSC corporation tax rates ended in 2003.

Although I think the issue would meet strong disapproval from the European Union, even a veto if such a thing were possible, I think the idea should be examined.

Like all countries on their knees, at the moment we are, paradoxically, not totally unattractive to foreign companies.

It looks as though the cost of doing business in Ireland is about to fall significantly (subject to Corporation tax), particularly in terms of salary expectations, the cost of raw materials, goods and services; and we can theorize that so too might minimum wage. We have a bright, well educated and available workforce.

So why not cut corporation tax for companies investing in the poorest regions? Why not slash it altogether for certain companies? What we need now are jobs, jobs and jobs. No amount of promoting confidence in our banks is going to change the figure on the live register, and will be useless if 440,000 people continue on the register in this country.

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