As Trump plans to slash corporation tax Ireland needs to expand our Talent pool .
On the day of his election Donal Trump claimed that his plans to slash corporation tax from 35% to 15% will boost the US ‘s growth and create millions of new jobs by encouraging major US firms to return home to the States.
The implications of this for Ireland are significant with the new administration focused on firms who are based here in Ireland and in particular the top 5 companies Apple , Mircosoft Google Oracle and Intel all Tech companies .
Indeed excluding financial companies U.S . companies have a total of $ 1.3 trillion in overseas cash .By slashing US corporation tax rates Trump hopes to bring back home a large percentage of this cash and to encourage US films not to set up in locations such as Ireland who have low corporation tax rates
If Ireland loses this advantage Ireland needs to ensure that other advantages inparticular our high skilled and talented labour supply are augmented and expanded and fast .
As each new jobs announcement is made through FDI , new firms always state that the key attraction of Ireland is Ireland’s Talent pool .
Recently we have witnessed acute skills shortages in many sectors and Ireland needs to address these skills shortages urgently particularly in the context of the changes planned by President Trump .
The key aim of Back 4 Good is to do just that and the Irish Government should support this innovative programme so that Ireland has a sufficient supply of Talent on hand for development agencies such as the IDA as they meet these new challenges.
