In his budget speech, Finance Minister Paschal Donohoe warned about the risk of relying on a handful of multinationals for a large chunk of Ireland’s tax revenue. Between corporation tax and income tax, he said €8-10 billion of tax receipts are at risk. The risk is that the state would come to rely on tax receipts from these huge companies to finance its day-to-day spending; then, a change in US tax law, a slowdown in the technology industry, or an idiosyncratic change in the market would pull the rug out from under Ireland’s finances.  Corporation tax rose 18 per cent…

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