Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

I know. It is a fact that when Sweden introduced a financial transactions tax, it wrecked that country's financial services industry. The Swedish authorities say that quite openly at meetings. They are very antagonistic to financial transactions taxes as a result of what happened previously. I know the situation has moved on. I set out the Irish policy position on a financial transactions tax in considerable detail in reply to the Chairman's first question here today. The Clearing House Group is run by the Department of the Taoiseach and is chaired by the Taoiseach.