Noonan: Raising Corporation Tax would boost coffers, but drive investment away

The Minister for Finance Michael Noonan has said Ireland could make more than €300m by raising its Corporation Tax rate by 1%.

However, Mr Noonan is refusing to consider a hike saying it would drive investment out of Ireland.

The minister said the 1% increase would boost tax revenues by €326m, but that foreign companies could take jobs out of the country if it went up.

He also says it would be difficult to justify an increase in tax rates after years of insisting the rates would not be changed.

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