Friday November 27, 2020

Drop in inward investment could threaten financial stability, warns OECD

Large foreign companies are the nation’s main drivers of growth but more needs to be done to improve productivity of Irish firms and make the economy more resilient, the organisation’s chief economist says

16th February, 2020
Laurence Boone, the organisation‘s chief economist, said foreign multinationals accounted for the vast majority of Ireland’s corporation tax revenue

A drop-off in the flow of overseas investment into Ireland could threaten the financial stability of the country, the OECD has warned.

Laurence Boone, the organisation‘s chief economist, said foreign multinationals accounted for the vast majority of Ireland’s corporation tax revenue, and any reduction in investment from those firms could have a significant impact on the economy.

Corporation tax receipts totalled €10.9 billion last year, €1.4 billion ahead of expectations. According...

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