Peter Mathews (Dublin South, Fine Gael) | Oireachtas source

The common theme presented by all the delegates was a focus on the residential property tax. I said in the previous section that the mortgage element that attaches by way of charge to the properties that are going to be valued is like a financial rather than a physical contamination. Mr. Roland O'Connell would be aware that a physical contamination on a site or a property immediately hits the value. It is just a starting point in theory and in fairness one would say that where there is a mortgage on a property it is actually a charge on the property and, therefore, it reduces its value for the purpose of taxation. That is a matter of physical and financial fact and has been missed in the discussion.

Another issue I wish to raise because all the delegates represent various bodies is the corporation tax rate - the sacred cow - which stands at 12.5%. From my discussions which have been pointed and searching with people at the top levels of companies from abroad who have invested and are thinking of coming to Ireland, a 2.5% uplift from 12.5% to 15% in the headline rate, because the PWCs and KPMGs of this world do all sorts of planning-----