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US decision could boost NI investment

A cut in US corporation tax could see multinationals investing more rather than less overseas, an Irish academic specialising in trade and foreign direct investment (FDI) has suggested.

Professor Ron Davies, from UCD, said the idea that US firms would not go abroad if President-elect Donald Trump slashed corporation tax to 15% were not backed up by research.

He also claimed that the last time the US introduced a tax amnesty to repatriate overseas profits — another Trump proposal — multinational employment in Ireland increased by 1.3%.

“Countries with low taxes send out more FDI, not less,” he said.

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