Ireland’s competitive taxes were the reason given for US firms choosing the country as a location for direct investment, a survey by law firm Matheson Ormsby Prentice shows.

The taxes were cited by 29 per cent of 250 Irish-American business leaders surveyed by Amárach Research. Spoken English was the next most important factor for some 21 per cent. Financial instability (20 per cent) and inefficient government (17 per cent) were reasons for not investing here.