Trump adviser says "a flood" of US companies will flee Ireland

Tuesday's vote is set to have a massive impact on the Irish economy...

Trump adviser says "a flood" of US companies will flee Ireland

Image: Evan Vucci AP/Press Association Images

One of Trump's top advisers has warned that firms from the United States will soon be upping sticks and moving back to the US as the Republican slashes taxes.

"I believe that when we cut these tax rates - we're going to cut our business tax rate from roughly 35% down to roughly 15 to 20% - if you do that you are going to see a flood of companies leaving Ireland and Canada and Germany and France and they are going to come back to the United States," Stephen Moore, senior economic adviser to Mr Trump told BBC Radio 4.

PA

He said that stimulating economic growth is the "single most important thing for our country right now."

Mr Trump has planned to bring the 35% headline corporation tax rate down to close to 15% - Mr Moore says this will have "a very high impact on jobs."

"There is no question about it, and we see day after day in this country that we are losing our businesses and our corporations ... They are effectively renouncing their US citizenship and they are moving to Canada, to Britain, to Ireland, to China and Mexico," he told the British broadcaster.

"That is a significant loss of jobs and we want to have the jobs here in the United States, we don't want to have them go abroad."

Speaking to Newstalk yesterday, a number of Irish politicians raised concerns over the impact that a reduction in US corporation tax will have on the Irish economy.