Ryanair threatens to quit Ireland

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Ryanair would quit Ireland if Sinn Féin takes power and “messes around” with the country’s competitive corporate tax regime, its chief executive has warned.

Left-wing Sinn Féin, which now enjoys a commanding lead in the polls in the Republic, is “economically illiterate”, Michael O’Leary said.  

He said: “We may well look at moving the headquarters out of Ireland. If corporation tax rates start getting messed around with by a Sinn Féin government then yes, we would move. We wouldn’t have any difficulty leaving.”

Mr O’Leary has masterminded the success of Ryanair since the early nineties, from a base close to Dublin Airport. Ireland has now established itself as a hub for the global aviation industry, with some of the world’s biggest leasing companies basing themselves in the Republic.

Despite Ryanair’s heritage, Mr O’Leary said he was prepared to move if necessary.

Sinn Féin has surged in the polls over the last year. With 37pc, the former political wing of the IRA is 16 points ahead of Fine Gael and 20 points ahead of the ruling Fianna Fáil party.

With many in the country believing it is a case of “when, not if” Sinn Féin come to power, many companies fear that despite the 2020 manifesto pledges to retain the headline rate of corporation tax at 12.5pc, a less favourable tax regime will be brought in at the next election in 2025.

Read more via The Telegraph

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