Minister for the Environment, Climate and Communications Eamon Ryan has said he is hopeful and confident that Ireland will “be able to be part of the solution” and sign up to a new global tax agreement.
Speaking to RTÉ’s Morning Ireland Minister Ryan said that the final decision will be made by Cabinet on Thursday.
He said that the Minister for Finance Paschal Donohoe had done a “really good job” on the issue and said it was important for Ireland’s reputation to sign up to the Organisation for Economic Co-operation and Development agreement.
The agreement could mean an increase in Corporate Tax to around 15% from 12.5%.
“I’m hopeful and confident that we will be able to be part of the solution here”, the Minister said.
So far, 130 countries and jurisdictions have signed up to a plan that will bring sweeping new reforms to global corporation tax rules.
The accord aims to modernise and stabilise what’s seen as an outdated and divisive means of calculating and collecting what large multinationals owe and pay in tax.
Ireland is one of nine countries that have not signed up to the deal.
In relation to the National Development Plan published yesterday, the Minister said that the key test of the Government will be its ability to deliver on the spending plans contained in it over the next three years.
He said Government has committed to a very high level of capital spending over the next ten years and it is important to recognise that.
Minister Ryan said “we do have the money and have agreed the funding will be provided”.
He said the plan is not a “wish list” but ensures “we get value for money”.
The Minister said he wants to start steering investment in a green direction by building public transport and active transport and leading “resilient investment”.
He said that in this decade Ireland will decarbonise the country and the development of public transport will be key to that.