DUBLIN, Nov 8 Reuters The unique exposure of Ireland39;s lowtax business model to the United States could place its public finances at significant risk under a Donald Trump presidency if he follows through on preelection promises.

Trump has pledged to incentivise industries to bring production back to the United States, and to slash the corporate tax rate to Irish levels. At worst, that might prove existential for Ireland39;s decadesold model of attracting jobs and tax dollars from U.S. multinationals.

Mostly U.S.owned foreign multinationals employ about 11 of Irish workers and the funding of public services is hugely reliant on the corporate tax they pay. Just three big U.S. companies account for about one in every eight euros of total tax collected in Ireland.

A near sevenfold surge in corporate tax receipts over the last decade has coincided with multinationals onshoring their highly valuable intellectual property IP assets to countries such as Ireland, where they have substantial operations.

Analysts say the key risk for Dublin is whether any measures Trump pursues to cut corporate taxes and bring more of that substance back to the U.S. includes incentives for the IP to come with it.

If just one of those multinationals decide they39;re going to locate the IP back in the U.S., that could effectively rupture the health budget in Ireland, said Aidan Regan, professor of political economy at University College Dublin.

The election of Donald Trump is an existential…