Leaning on little Ireland

Any truth in the FoI inspired report that the US and UK are leaning on Ireland to tighten up the 12.5% corporation tax regime? Pity, if it hit NI hopes of winning a slice of Tiger action at last. The UK has long been fearful of a mass exodus of multinationals to Ireland. Two more big ones went west last week. It was the last straw after they heard that our tough talkin’ Chancellor will after all refuse to abandon ideas for a tax on multinationals’ profits earned overseas. Pressure to scrap the plans had been increasing long before it was clear ( to Alistair Darling anyway) that the financial crisis was so severe.The best option would be another corporation tax cut from 28%. But O Lord not yet. We have to get revenue from somewhere.