Trump and Clinton have very different takes on US firms relocating to Ireland

The Republican candidate says Ireland can't be blamed for controversial 'tax inversion' deals...

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John Locher / AP

As part of Donald Trump's gloomy nomination acceptance speech at last week's Republican Convention, he commented on the flight of US companies to other territories, saying:

"I am going to bring our jobs back to Ohio and Pennsylvania and New York and Michigan and all of America – and I am not going to let companies move to other countries, firing their employees along the way, without consequences. Not going to happen anymore."

His plan to keep them is to radically cut taxes and regulations - he argues that with the current corporate framework in the country it is no wonder that companies are heading abroad.

Speaking to Bloomberg in November of last year, he said, "In the old days you would leave New York and go down to Florida, or you would leave New Jersey to go to Texas to save taxes."

"Now because of the way the world is so different, you leave the United States and you go to Ireland, and different places in Asia and you go to Europe. It is a different world and we have to compete better," the Presidential hopeful continued.

US firms moving their tax bases to Ireland through so-called 'tax inversion deals' became a live-issue on the campaign trail in the US last last year when Pfizer announced plans to merge with Allergan and to move its tax base to Ireland.

Hillary Clinton’s camp was out quickly in response to the proposed deal, "[we are] committed to cracking down on so-called tax inversions where a company chooses to leave the US on paper to game the tax system,” a spokesman for her campaign said.

She later criticised companies who are, "moving abroad to Ireland to shirk its US tax obligations" - and said that tax inversions represent tax "perversions."

Donald Tump's comments on the issue have targeted the Obama administration, rather than Irish tax policies, or the companies involved in these deals.

Trump has said that he believes if the US cuts taxes for firms that they will use the savings to "build and do things in the United States."