April 10, 2017 / 12:31 PM / in 4 months

Ireland says U.S. border tax unlikely but would hurt it dramatically

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Irish Minister for Finance Michael Noonan takes part in a eurozone finance ministers meeting in Brussels, Belgium March 20, 2017.Yves Herman

DUBLIN (Reuters) - A "border adjustment tax" in the United States would have a dramatic impact on Ireland's foreign direct investment-reliant economy but is unlikely to be introduced for political reasons, Irish finance minister Michael Noonan said on Monday

"Certainly if they bring in a border tax it will impact us pretty dramatically... but from a political perspective it looks unlikely that that will actually be introduced," Noonan said in a speech, referring to the plan that is part of a tax reform blueprint backed by House Speaker Paul Ryan.

"I think they may reform corporation tax and I don't think there are very adverse implicates on that for Ireland. As a matter of fact it might free up investment funds," he added.

Reporting by Conor Humphries and Padraic Halpin

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