IRELAND WILL SUPPORT the French finance minister Christine Lagarde in her bid to become the next managing director of the International Monetary Fund – regardless of France’s attitude on Ireland’s corporate tax rate.

Finance minister Michael Noonan has confirmed that Ireland would be lending its support to Lagarde’s candidacy if she is contested – describing her as an “excellent candidate who has all the capabilities of being a very good head of the IMF.”

But asked in a parliamentary question by Micheál Martin whether his support for Lagarde was conditional on Ireland retaining its hallmark corporation tax rate of 12.5 per cent, Noonan said the issue was not important.

“The question of Ireland’s corporation tax rate is an entirely separate matter to the appointment of a new head of the IMF,” Noonan replied.

“The Government’s position on our corporation tax strategy is unambiguous and it is not at risk.”

Today marks the deadline for the close of nominations for the IMF job, with Lagarde one of three likely candidates.

The others are Mexican central bank governor Agustin Carstens and his Kazakh counterpart, Grigory Marchenko.