Speaking at the recent CORI Annual Social Policy Conference, economic adviser to the Irish Congress of Trade Unions (ICTU), Paul Sweeney condemned the Republic's 12.5% corporate tax rate as a "major policy mistake".
"An industrial/development policy which is based on artificial tax subsidies is not sustainable. It has Ireland leading the race to the bottom in Europe - a race which cannot be won by any state,” Mr Sweeney suggested, continuing:
"We are being pursued by the new members on the tax competition race to the bottom. Estonia actually has a rate of zero for many firms. This will be hard to compete with.”
Warning that the issue of Ireland's low tax rate has damaged its credibility in within the European Union, the ICTU economist urged Irish policymakers to shift their focus from the low tax rate to building on the country's other competitive advantages.
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