Irish Prime Minister Says ‘Radical’ Recovery Plan to Cut Deficit

Ireland has embarked on a "radical national recovery plan" to sustain economic growth and reduce the deficit to below 3 percent by 2015, Prime Minister Brian Cowen wrote in an editorial published in the Wall Street Journal.

"It is important to emphasize that our 12.5 percent corporate tax rate will remain," Cowen wrote, adding that the parliament unanimously approved the rate as "an indispensable tool for growth, job creation and economic recovery."

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