Corporation Tax Again

I had not intended to revisit this issue so soon (or even at all) and would probably not be doing so but for the mention of Cork in this comment by the redoubtable Jens-Peter Bonde(it is close to the bottom of the web-page).(The comment was brought to my attention by fellow-Corkman, the indefatigable Tony Coughlan).

Mr Bonde believes that the Court of Justice could outlaw what he calls our very distorting low corporation tax rate by use of a new provision to be introduced by the Lisbon Treaty. It seems to me that he does make a new and potentially important point on the difference between the requirement for unanimity on a possible new EU tax policy, and the possibility that a particular existing tax regime, such as the Irish one, might be found to be distortionary. The veto would be of little help in the latter scenario.

The issue just won't go away - even though, as I have said, it leaves me somewhat cold - and I doubt that the Referendum Commission's opinion on itwill end the debate. I have not yet read that opinion yet, and had been planning to avoid doing so; but Mr Bonde has now piqued my interest.

Be warned that this means that I will have to address the issue yet again.