Financial services are a big part of the UK economy but the lawyers and bankers get paid and then spend money in the UK. Ireland’s very low corporate tax rate

Financial services are a big part of the UK economy but the lawyers and bankers get paid and then spend money in the UK. Ireland’s very low corporate tax rate makes it attractive for multinational companies to structure their operations so that earnings are booked in the country even though little in the way of work is done there (perhaps through intellectual property charges.) This is only viable for a small country like Ireland because it can attract a proportionately larger amount of earnings with its low tax rate.