The Irish economy will fare much better under the economic and international tax policies of George W. Bush than it would have done under the proposed policies of the defeated Democratic candidate John Kerry, according to Ireland’s Prime Minister Bertie Ahern.
Whilst past Irish governments have traditionally aligned themselves with the Democratic Party, Ahern observed after last week’s closely contested US presidential election that the Bush victory puts Ireland in a stronger position in terms of economic policy.
"Looking at the policies in the manifestos of both candidates, had Senator Kerry been elected, US multinationals abroad would be subject to a new taxation, which would have had a significant impact on the Irish economy. I would have begun immediately a process of lobbying to ensure such a tax would not have been introduced," the Taoiseach explained.
The United States continues to be a major contributor to the Irish economy, with investors attracted by its low 12.5% corporate tax rate.
According to information technology trade body ICT Ireland, some 25% of US investment into Europe has been channelled into Ireland over the last ten years.
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