Irish finance minister stands firm on Apple tax deal in budget speech

Michael Noonan pledge that Ireland's 12.5% corporate tax rate 'will not be change' goes down well in Cork, home to Apple's HQ

Ireland's finance minister has acknowledged a torrid year for the country's much-criticised corporate tax regime with a robust defence of Apple's taxation deals with the Irish state.

Michael Noonan said while delivering the budget on Tuesday that Ireland's 12.5% rate for companies "will not be changed". His comments will have been welcomed in Ireland's second city, Cork. It is home to Apple's main plant in Europe and, in a visit to the city last week, its citizens were equally supportive of the state's dealings with the tech giant in a relationship that goes back over 40 years.