Dáil Éireann Debate, Thursday - 20 November 2008
21 Deputy Willie Penrose asked the Tánaiste and Minister for Enterprise, Trade and Employment her plans to make contact with the incoming administration in the United States in view of reports that proposed tax changes may impact on US investment here and the possible consequences for job creation; and if she will make a statement on the matter. [41750/08]
Amharc ar fhreagraMy Department and I are always mindful of potential international developments that could adversely effect foreign direct investment here. In that respect there is continuous liaison with the business community, through domestic and overseas channels, to monitor any potential changes. I am not aware of any concrete proposals to make changes to US tax legislation. While there has been some speculation in the context of the Presidential election that any new Administration could seek to make changes to the tax code, it is merely speculation. I and other Government Colleagues will be actively engaged in these matters with the new administration.
I do not need to remind the House of the importance of US investment to the Irish economy which has been valued by successive Irish Governments over the last forty years. Irish investment in the US is also of significance. In that context it would be remiss of me not to be mindful of the sensitivity of investment decisions to the overall economic environment that would prevail including the tax environment that could undermine such decisions
