Donohoe: years of budget surpluses needed to offset corporation tax shock

Minister for Finance Paschal Donohoe has warned that the state will need to run several years of large budget surpluses to guard against a sudden collapse in corporation tax.

Donohoe’s comments were made after the Organisation for Economic Co-operation and Development announced plans to force tech companies like Google and Facebook to pay more taxes in the countries where they make their biggest sales – which could lose the state €1 billion a ...