Mr. Fergal O'Brien:

I believe the area of corporation tax is a bit like pricing in any market situation. We have a transparent competitive corporation tax rate which means that relatively, we get more of our tax revenue from the corporate sector than most other economies in Europe with much higher rates. If we increase the price, that is the rate, I do not agree that we will get more revenue. We will probably get less revenue or the same revenue, applying the higher rate. The main reason would be due to the lack of certainty for business as a result of that change. It would result in behavioural impacts. If one looks at the outcome for Ireland and compares it with that of other countries in Europe, we get a very high share of our total tax revenue from the corporate sector by having a simple, transparent, consistent and certain rate. It would be flawed economic policy to change that.