September 27th, 2011

Welcome to Low Tax Ireland

Downing Street will not be best pleased that Twitter has chosen Dublin not London as its European base. Dave and Boris invested in a joint Twitter charm offensive, with No. 10 briefing the Telegraph: “All that matters is that they come to London.”  They didn’t and Ireland’s business Minister Richard Bruton says it “is a massive win and shows there is real ground for Ireland’s claim to be the internet capital of Europe”.

Twitter joins Google, Facebook, Microsoft, Linked-In, Zynga, PayPal, eBay, AOL and Yahoo in Dublin, where the internet hub is generating thousands of high-tech jobs of the future. Can you blame them? Lower corporation tax rates and lower personal tax rates made it an easy decision for Ali Rowghani, the chief financial officer of Twitter. The UK has to become more tax competitive if it wants to attract geographically mobile internet firms.

Fiscally Ireland is doing what has to be done, an expansionary fiscal contraction is well on its way, GDP growth is well above the €urozone average, there is a healthy trade surplus. If the Irish political elite would steel themselves to exit the €uro, implement a controlled default on the bank debts and re-introduce an Irish punt pegged loosely against a basket of $, £ and €, the country would be free to thrive again. With UK banks holding £133 billion of Irish debt (equal to 6% of UK GDP), much of which is secured against London property, Britain’s fate is far more closely tied up with Ireland than Greece. The €uro as we know it is doomed, it is in Britain’s interest to focus on its trading near neighbour and leave Greece to Germany.


  1. 1
    misterned says:

    Funny how I never saw anything about this on the BBC. There is no way the lefty coalition will go for lower taxes.


    • 22
      Astranged capitalist says:

      Note that these companies generate more hype than profit. Perhaps we need to be looking at more solid enterprises for the future. Stats that don’t appear on the balance sheet and share prices that go pop when analysed!


    • 41
      Iloathlefties says:

      I’m glad you explained this in simple terms Guido for our politicians as they don’t seem to realise LOWER taxes welcomes business and wealth generators. High taxes forces people to leave the UK, replaced by 3rd worlders living off benefits.
      Another 10 years of this standard of politicians will turn US into the 3rd world. Most of our Cities already are!!


      • 64
        Liberal Folly says:

        I’m afraid that is the Liberal Conservative/Democrat dream. Import third worlders, give them benefits that no 1st worlder could ever dream of, on top of that protect criminal third worlders from natural justice and tax wealth generators out of the country.

        What could possibly go wrong?


        • 81
          David Laws Lib Dem fiddler says:

          Two things spring to mind:
          Siraj Yassin Abdullah Ali, 36, was released from prison in May after serving two-thirds of a nine-year sentence for aiding and abetting the al-Qaeda cell which tried to replicate the 7/7 attacks on London transport.
          A TERROR fanatic walks free on the street — after a judge blocked moves to kick him out of Britain on human rights grounds.
          Ismail Abdurahman, 28, was released after just three years behind bars for helping a 21/7 bomb plotter.
          In relation to the Human Rights Act, Clegg says in words of one syllable:” it here here to stay”. Let us hope his family will suffer the consequences from people like this.
          Why does the Govt think that people will be happy to work for less than half their salary (over £35,000) so the larger share of their salary taken in tax and NI is taken to support sh1t heads like above and Govt wasteful spending on overseas aid, EU dim-wited public sector spending ie NHS computer scheme MOD wasters?? They need to look in the mirror and have a reality check.


          • David Laws Lib Dem fiddler says:

            The UK needs to close Oxbridge PPE courses as a matter of urgency they must be infiltrated by espionage to produce idiots in the so called political elite.


          • All of the Countries institutions have been infiltrated by one Intelligence gathering agency or other. At least the Russians are Blatantly ran by the Old Controlling mechanisms of the KGB, Mr Putin. Our lot do it through intimidation through the media or the threat of a Kelly. Any way the reality is that the corruption of Policy has lead to the economic collapse of the Country. They have even got the Fu–wit politicians telling every one “Peace time Deficit.” Cameron’ May’ Osbourne’ et al.


          • You have to take into consideration how many Spooks and Quango’s these terrorist Types and Drug Dealing Foreigners keep in Employ. I mean look at the overtime that was created after 7/7. 9/11 lead to the squeezing of every last USA citizen to pay the eye watering Debt 14 trillion dollars last count. Cmon would you not take the money. I know I would


        • 105

          Government has been sucking at the over taxed business community the man in the Street and have sucked us all dry. It might have something to do with the Gay Politicians who like to do a bit of Sucking that has lead to this phenomena. Bringing the economy back to life will take a lot of work, however reducing the TAX Burden on all of us is a START. Oh Sh– forgot by the time you pay all the Quangocrats and War on Drugs and Wars generally, The State will be putting the TAX UP. We are all doomed.


      • 67
        Guido's mammy says:

        FFS Gayboy, will you cut out this man-of-the-auld-sod Oirish shite. Everyone knows you’re a fat, fairy-voiced westerern oriental gentleman, who shills for I srael, the crowd of criminals that shot up the Rachel Corr ie, carrying real Irishmen and women, not fat fuck pieces of shite like you.


        • 116
          Alexei (fisticuffs) Lebedev - a fit and proper person says:

          I see you’re a friend of Iranian backed arab terrorists then.


    • 86
      con merchants says:

      So, we bung the Republic of Ireland countless billions to help it keep the lights on, which they use to maintain competitive advantage over Northern Ireland and the rest of the UK……

      Time to wake up, Coalition dumbfucks. The Republic of Ireland would sink the UK in a spittle given half a chance.


  2. 2
    Vince Cable's rucksack says:

    Did Vince see this one coming (or going)? Anyone seen Vince?


  3. 3
    Barry says:

    Perhaps time to bowl a googly regarding twitter location to DPM at his question time?


  4. 4
    Dick the Prick says:

    Can’t blame them – chuck in feckless rioting recalcitrant welfare slaves and you’d be mad to risk your staff’s safety in London


    • 9
      Cato the EnLightened says:

      Salve Magister Guidissime [Hi, Mr Guido Dude]

      Presumably Her Britannic Majesty’s Judges will today (Tuesday) be leaping over backwards to be “understanding” of these feckless rioting criminals by reducing their sentences most excessive (NEW-English for justified)

      As mine friend Sir Richard Hannay doth observe :

      What’s wrong with this great Nation is Smugness & Complacency


      Cato ille Drearissime

      Mit Apologien an der 39 Steps (BBC 2008)


  5. 5
    TheDukeOfHunslet says:

    Ireland is a very cheap whore right now. When these companies start talking about being a premium brand someone do please remind them of the difference between shopping at Waitrose and shopping at Lidl.


    • 23
      doh! says:

      With the exception that one doesn’t have to ‘visit’ Twitter in Dublin to use their services.

      England is fucked beyond redemption.


      • 40
        TheDukeOfHunslet says:

        That being the case why bother having offices at all?…


      • 112
        Ryan says:

        Bollocks. England will just pay off its debt by printing more cash, safe in the knowledge that Sterling is still one of the world’s reserve currencies so it can print the whole debt and still not see inflation go through the roof.

        Inflation 5% in the UK, bonds at 2.2% – you just can’t make it up! The world is paying us to get into more debt! Oh, yeah we’ll have some more of your cash and pay it back with freshly printed bank notes “oh freshly printed? I like the sound of that!”. Ha, Ha!

        I’m thinking of buying Ireland with loose change I’ve just had printed.


  6. 6
    genghiz the kahn says:

    At least Deadwood uses Twitter – and sets himself up for another epic fail.

    How many Milibands in a Centiband?

    Dorries or Mensch?

    He should have taken Obnoxio The Clown’s advice and sacked the Hunt who thought AskEd# was a good idea.


  7. 7
    SwissTony says:

    A couple of Accountants next to the Pub. Then another office in London.


    • 13

      No thousands of good jobs, talk to Google and you’ll hear a Dublin accent.


      • 27
        Beancounter Central says:

        If by ‘good’ you mean a temporary job in a call centre, then knock yourself out. The west of Ireland (like many US states who joined in the tax race to the bottom) is full of empty ‘high-tech’ sheds where Dell, Apple and others assembled products for a few years until the introductory tax breaks ran out, when they promptly buggered off to Poland/Shenzhen.

        Anyway, Twitter – however popular it is, it has yet to turn a meaningful profit – is only a low-tech person’s idea of a high-tech business. Guido should stick to politics, he clearly has no grasp of economics.


        • 111
          Ryan says:

          Spot on – blame globalisation. China’s growth was at the expense of Ireland, which in turn was growing at the expense of the UK – using UK subsidies filtered through the EU to create a subsidised trade zone designed to flout EU protectionism. All the while they were bombing London and shooting our soldiers that were only there in the first place because Gerry Fit asked them to come in and protect the Republicans.

          What a bunch of chancers.


      • 36
        Jay says:

        Guido, with respect, you’re not exactly an expert on economic matters. A “controlled debt default” would push Ireland over the edge for years to come and leaving the euro would wipe out billions of pounds of Irish taxpayers’ personal savings.
        Not exactly a rosy scenario you’d agree surely.


  8. 8
    Cole Porter (you hum it) says:

    One of this blogs best observations yet.


  9. 10
    Widescreen2010 says:

    I believe we (the UK taxpayers) are effectively subsidising Ireland’s low corp tax rate.
    Thanks, UK Government. I don’t know where we’d be without you.


    • 12

      No UK taxpayers lent money to Irish government to give to Irish banks to give to UK lending banks. The money didn’t even bother to stay in Ireland overnight.

      So Irish taxpayers now on the hook for bad loans made by UK banks to Irish banks. It was a bailout for the benefit of UK banks, nto Irish taxpayers.


      • 18
        Peter Grimes says:

        Will Dave and George have the balls to tell the Eurozone to fuck off and that the planned reduction of Lloyds won’t go ahead now that French banks seem set for a massive state/Eurozone re-capitalisation?


        • 24
          The Golem says:

          As the EU’s men in London, Dave and George know their duty.


        • 70
          misterned says:

          How much more evidence does one need to finally grasp the fact that Cameron is a Europhile zealot falsely masquerading as a Eurosceptic?

          Despite the fact that Dave will go through any number of logical hoops to show that whatever deal is cooked up to ‘save’ the Euro, no matter how many previous treaties need revising and re-ratifying, he will insist that none of these changes, even setting up a single fully politically integrated Eurozone which effectively creates a de facto single nation of Europe across all the Eurozone, would not create a trigger the referendum lock.

          The fact is, the current government front bench are even more opposed to a referendum on the EU than labour are. Labour are using the luxury of opposition to tentatively float the idea of a referendum as a vote grabber on various forums at the moment. The tories would not even go that far.


          • stun says:

            Interestingly, yesterday’s YouGov poll which I got by email alert asked just that question. I said I would consider changing my allegiance if offered a referendum, though only in the hope that the Tories would be forced into matching the concession…..


      • 37
        Osama the Nazarene says:

        So if the Irish banks had defaulted it would have been UK banks taking the haircut? Sounds like Dave & George did a good job.


      • 52
        Widescreen2010 says:

        Still effectively a subsidy since it meant that Irish ‘taxpayer’ didn’t have to
        1/ stump up the money immediately
        2/ borrow at the far higher market rate
        3/ declare themselves bankrupt, see 2 but even more so.
        I hope he have our loan secured against property in case our Fenian friends decide they don’t want to pay back their borrowings. Again.


      • 63
        Airey Belvoir says:

        The claim that Ireland is by far our biggest export market, trotted out endlessly at the time to justify our bail-out loan, should be treated with caution. It turns out that a large volume of international imports to Ireland are trans-shipped through British ports due to limited harbour facilities there, and are automatically then classed as UK-Ireland exports, even if coming from China or anywhere else. Smoke, mirrors and dodgy statistics.


    • 98
      oddly helpful says:

      Is it mere coincidence that trying to log just now produces the charming, if syntactically dubious message:

      “Something is technically wrong.

      Thanks for noticing—we’re going to fix it up and have things back to normal soon.”?


  10. 11
    Fiscal Gerrymandering says:

    Socialist don’t understand that sustainably growing an economy needs individuals (not government) to invest and take risks and employ people to pay tax to pay the politicians and civil servants.

    Lower taxes create investment – higher taxes kill growth

    George Osborne and Ed Balls should look up the Smoot Hawley Tariff Act and see how that worked out for 1930’s America


  11. 14
    Big Horror says:

    Then why didn’t they choose Dale Farm in Essex? A zero tax zone by all accounts.


  12. 15
    Sir William Waad says:

    They could save a lot of money painlessly by stopping the pretence of speaking Gaelic, incuding teaching it in schools to children who will never use it, putting bilingual signs up everywhere and so on.


  13. 16
    Stan Butler says:

    Ireland have prostituted itself to an economy based on a low corporation tax. Once the Eurozone is fiscally united, Irelands CT will go up to meet the new harmonised rate that will prevail across the eurozone.

    Won’t happen? Well, Ireland’s polticians are so pro EU that even though they promised the elcetorate that the Lisbon Treaty would not permit a forced change to the CT rate, any threat to Ireland having to leave the Euro will be met with the usual Irish response, that is to sit quietly, moan a lot and take the punishment.

    This issue will be a major one in Ireland in the coming weeks, once the electorate realise that the fiscal union required to save the Euro means that Ireland and the rest have to give up what little of their sovereignty is left and align everythibng from taxes to benefits. And then we will see whether an economy based on a tax fiddle is one to be commended.

    It will be a fight over the Euro and Sovereignty, and the Euro will win because the Irish would rather fall flat on their arse than admit they were wrong to join the Euro.


    • 20
      Peter Grimes says:

      If benefits get aligned we will see more economic migrants than ever being bussed across Europe and waved through Calais or Holyhead to take advantage of the UK’s over-generous offers, perhaps transiting at Dale Farm.


      • 31
        Stan Butler says:

        Compared to Ireland, we pay low welfare. In Ireland, the dole alone is E200 a week. They get higher child benefits too.
        Dale Farm is an interesting one. Most of the good folk of Dale Farm have homes in Co Limerick and are spouting crap when they claim to have knowhere to go. Pop ‘Rathkeale’ into Google Earth and have a shufty at all the boarded up houses.


        • 120
          Peter Grimes says:

          But if you can get both, Stan, as so many Paddytravellers do, you’re doing ok. Do the Paddies pay HB (up to £2k per week) and CTB as well?


      • 49
        Fiscal Gerrymandering says:

        Ireland like Portugal, Italy, Greece, Spain and Belgium have poor tax revenues as they have always expected to be able to borrow. These short termist, fiscally irresponsible countries that are now demanding the world bail them out of their profligacy – let them fail and teach them accountability.

        We have people staving in this country – Do not let Cameron, Clegg and Osborne spend our hard earned money on bailing out irresponsible foreigners as bankrupcy and default reset is the only way out of the biggest global debt burden in history.

        Charity begins at home – LOOK AFTER THE ELECTORATE FIRST


  14. 17
    Barry says:

    “Fiscally Ireland is doing what has to be done,
    an expansionary fiscal contraction
    is well on its way,”
    Sorry to be stupid but what is an
    “expansionary fiscal contraction”?
    Seems a contraction in terms


    • 94
      the fuck of the irish says:

      it’s like a contractionary fiscal expansion – if you’re a podgy, economically illiterate bogtrotter


  15. 19
    Beancounter Central says:

    No ‘efficient’ multinationals pay local tax rates anyway. Their beancounters have created mysterious operations in Lichtenstein and the Cayman Islands that make implausible loans at implausible rates of interest in order to syphon away any local profits that might be taxed (vide Vodafone et al). If we join the Irish in a race to the bottom we’re all doomed.


  16. 21

    The problem is Ireland will shortly be a province of the EU run by economic governors from Brussels. The taxes will then become whatever their EU masters say them must be.

    The Euro is like acid – dissolving the sovereignty of every nation.


    • 26
      labourunionsbbc we are one says:

      Did Ali Rowghani and twitter, ‘discuss’ this with the men in suits in the eu ssr before plumping for Iraland.

      Were any preferential down the line deals done in that dark place.


    • 28
      George "spank me now" Osborne says:

      I’ve been on acid for years.


  17. 25
    Selohesra says:

    O/T – I see an exam board is going to penalise private school kids in the exam marking because they have received better teaching and had more resources spent on them. Great idea and should be extended to Premeriership football where out of nowhere poor clubs like Boltom or West Brom will be declared champions even though they got less actual points than the other teams but they did do jolly well for the resources thery had.


  18. 29
    Displaced Brummie says:

    And when Twitter and Google bugger off to -say- Poland or Lithuania, or the Isle of Man, what then?


  19. 32
    Michael says:

    “expansionary fiscal contraction”
    Could someone explain this to me?


    • 90
      Lady Virginia Droit de Seigneur says:

      Basically it’s reducing the size of the state through tax cuts to business and/or individuals that stimulates an increase in private sector economic activity that more than offsets the reduction in government spending.


  20. 33
    oh get a grip says:

    So an internet company chooses Ireland over Britain, well I never, now where did Dell leave Ireland for, oh yes Poland, business is there to make money and to do it requires places where the taxes/property are cheaper, like the tides they come in and go out hey ho.


    • 103
      Iloathlefties says:

      Its about the wage costs and political stability. They’d all set up shop in some asshole of a country in Africa otherwise!!


  21. 35
    John Bottcher says:

    How lovely.

    Eire is bankrupt, supported by mine and others’ taxes.

    And we’ll probably have to pay more tax/cuts in essential services to “support” that bankrupt economy.

    We’d be as well hunting down leprechauns hoping for a pot of gold.


  22. 38
    San says:

    High taxes and high Government spending.

    Dave Cameron is not a Conservative – he is Continuity Labour.

    This Blue Red Yellow Big Statism is killing the British economy.


  23. 39
    Billy Bowden is the world's greatest umpire ! says:

    “Ed Balls puts Guido Fawkes at heart of plans to boost British economy”

    Ed Balls must be regular reader of this blog then.


  24. 42
    Sophie says:

    Well done Blue Team, another avoidable screw up.


  25. 43
    The sayings of chairman Balls says:

    “expansionary fiscal contraction” Is that one of mine ?


  26. 44
    oh get a grip says:

    I see Greece has the same problems as the rest of Europe, lieing political speeches about the EU by lieing politicians whose only dreams are more troughing.


  27. 45
    Gordon Brown says:

    I am so glad David Cameron is continuing with my work


  28. 47
    Old Dixie says:

    Why would anyone choose to run a business in the UK if a physical presence here were not necessary?


  29. 50
    Non believer says:

    Nice try guido

    Google is attracted to Ireland not just because of the low corporate tax but because Ireland allows them to funnel nearly all of it’s profits to bermuda; Gross profit of 5.5 billion euros turns into just 45 million euros taxed at 12.5% after ‘royalty’ payments have been made to their bermudan offices.

    As for 2000 high tech jobs they have there I’d imagine the Irish office is nearly all call centre monkeys. The google London offices are the second largest engineering office they have in Europe (after Zurich) and is their base for mobile application development, that is is where the real tech jobs are.

    No offence but I can imagine attracting the best and brightest to bogland isn’t that easy.


    • 88
      Non Believer says:

      btw Twitter already has a London office and it hasn’t said anything about this new Irish office being it’s European HQ so not quite sure where you got that idea from Guido.

      Lets see how many jobs are announced there Guido, I’d imagine it’ll be some more call centre monkeys and a few highly skilled tax accountants. Not sure that’s going to do much to solve Irelands problems.

      I’m really not convinced that we should take advice from Ireland on how to run an economy, they managed (somehow) to fuck things up even more than NuLabour.


  30. 51
    AndyL says:

    WTF is an “expansionary fiscal contraction”?


  31. 53
    Attila the Huhne says:

    I’m sure Cameron’s dictum, “Too many tweets make a twat”, didn’t help either.


  32. 54
    Steve Miliband says:

    When the likes of Vodafone avoid tax the left are up in arms – NB people/companies don’t like paying taxes.

    It makes me weep. It would make me shudder if I calculated the amount out of every pound that my company earns was paid in tax.

    Then they wonder why people get angry at Government waste and propping up the feckless workshy


  33. 55
    What a shock says:

    SARAH Brown left home when her husband Gordon’s mood darkened after leaving Downing Street, an explosive new book claims.


    • 80
      Airey Belvoir says:

      She was probably worried for the safety of the boys. Young skulls are thinner and less able to stand the impact of a violently hurled Nokia.


  34. 57
    Stinkfinger says:

    Good for Ireland now how about we give them the north back and then make arms shipments to the the UVF via our new mates in Libya.
    Should keep them busy for the next 40 years at least.


    • 60
      Jasmin Alibi Cunt says:

      Hows about we tells all fucking Celts to fuck off


      • 73
        Handycock (Teen Fondler) says:

        That is a racist statement and against al the ethics of Antient Brotherhood, I am a distinguished member of; I therefore have to make a strong protest. Is it any wonder we do not allow women members into the Brotherhood when they make statements like this. Jahbulon.


  35. 59
    Jasmin Alibi Cunt says:

    Fucking Irish scroungers


  36. 61
    Ed Miliband says:

    I’m offering everyone a New Bargain.

    Free copy of Gordon’s Book with every new Student Loan.


  37. 65
    SuzyQuattro says:

    partially agree. We should leave Greece to Germany. But lower taxes just to entice businesses is the same shit approach that got us into this mess. We don’t want low taxes. If you want to trade in this great nation, with the British people. You should have to fucking pay for it.


  38. 69
    Selling England by the pound says:

    Let’s face it an Irish Tinker has a better grasp of the English Language than most of our inner city dwellers.


    • 97
      Leopold Bloom says:

      “Let’s face it an Irish Tinker has a better grasp of the English Language than most of our inner city dwellers.”

      Or most of the posters on this site…


  39. 71
    Anonymous says:

    Let’s st tax rates at zero.

    That away, they’ll definitely come here.

    of course, everything will collpase as there won’t be any money to spend on public goods, but what the hell, eh?


  40. 77
    BAE Systems says:

    Sorry lads, England is fucked, we’re off!


  41. 78
    Every Little Helps says:

    It’s not just the central banks who are coming unstuck by printing money in these troubled times.


  42. 79
    Cut the spongers adrift says:

    The quickest way to cut the deficit and reduce taxes at the same time is to declare Scotland independent.



  43. 82
    Stan Butler says:

    Dale Farm p1keys being aided by a Physicist.

    Basildons best legal eagles being outwitted by a scientist. Doesn’t say much about the quality of Basildons legal team and I’m sure that the council tax payers of Essex will be somewhat agitated at paying for legal advice that is being undone by legally unqualified p1key lover.


    • 96
      The Cabinet Secretary says:

      He’s obviously got fuck all to do. Must be nice having a job like this financed by the taxpayer.


  44. 84
    Anonymous says:

    As a new media guru I assume you know Twitter already has offices London Guido, and Twitter has not announced which will be it’s European Base. Twitter have not said so, so I’m unclear as to why you’d think that.

    No announcement on the type or quality of jobs that will come to Ireland via Twitter, wouldn’t surprise me if it was more low skill call centre nonsense and maybe some highly skilled tax accountants.

    I’m not sure we have a lot to learn from Ireland in terms of how to run an economy btw, they managed (somehow) to fuck things up even worse than we did.


  45. 91
    Anonymous says:

    wasn’t that much of a charm offensive when he threatened to block them!


  46. 99
    Penfold says:

    Won’t last, as those statist beggars in Brussels will have Eire’s low tax status ruled illegal if Eire requires further bail-out monies from the ECB, EFSF, et al,.
    They’ve already tried this route, The EU, and have been seen orff, but Eire’s parlous financial state will not allow further fending off no matter what Enda Kennedy says.
    But, for the UK, it sends a message that high taxes and social costs do not attract business, please take note Call Me Dave and Gideon.
    It would also seem that Ed Balls progrom won’t attract new inflow business either, and if the Unions have their way we are rightly screwed.
    Eire offers the way forward, low taxes and social costs.
    London and Brussels please note and learn.


  47. 107
    Captain Lugard says:

    I would imagine the situation of the London Law courts regarding Libel and defamation might have also played a factor.


  48. 110
    Ryan says:

    I seem to remember you giving us this bollocks before, just before Ireland admitted that not actually collecting taxes had left it with a debt problem it couldn’t pay back leading to the UK bailing it out.

    Currently Ireland’s deficit is about 30% of GDP, far bigger than the UKs.

    I presume that Twitter have gone to Ireland because Twitter doesn’t actually make any money and it needs cheap Irish students desperate for office work at any price.


  49. 113
    Mr ADC says:

    Might be slightly more genuine for you to state exactly why these US based mega corporations use Ireland as their European base. It is indeed about taxes but not in the way the Guido implies. Microsoft et all hugely underpay their taxes to the US treasury exactly because they can funnel most if not all of their Global corporate profits through HQs like Ireland – thus massively reducing their global tax bill. i.e using Ireland as an offshore tax haven/laundering facility. Perfectly legal under current US tax law however it does not take a genius to imagine that this stratospheric level of corporate tax evasion is seriously harming the US bottom line and it may not take much of a shift in the balance of power in Washington for them to legislate against such trickery….and the net result of that? Microsoft (which totals 5% of Ireland’s Total GDP!!) upping sticks and leaving, the rest following suit and Ireland is serious serious trouble. Until Ireland produces homegrown companies that will stay and instead relies of highly transient global corporations exploiting their corporation tax rate then Ireland will continue to have a timebomb under their economy….


  50. 117
  51. 119
    Future PM. says:

    Does anyone have any good sources which I could examine regarding how the EU is economically and politically threatening to our sovereign state of Great Britain? I’m only a student so I do not have the same grasp on these affairs that some of the other posters on this blog may have but I do find the possibility of a single Europe that may threaten the status of Great Britain very disturbing.


  52. 121
    Sheamus O'DunCaravvanin says:

    Who was it, best o’ the morning, who was puttin’ the I in “pigs” then?

    Oh and will this good news mean those pikey oirish squatters in Basildon will fuck off back to the internet capital of europe?


  53. 122
    David Lewis says:

    You just have to see this. it is horrifying. Cameron must go.


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