Dr. Pat Ivory:

Our well-known position is that we are 100% committed to maintaining the rate of corporation tax. That will continue to be our position which we have defended successfully in the past and we have the ability to do so again in the future. Our corporate tax regime is transparent, while those in other jurisdictions are less so. For example, other countries have many more exemptions and ways of paying less tax which are not apparent from the headline rates that apply. There will always be discussion of tax levels. As the eurozone moves forward and meets the challenges facing it and as the European Unions discusses its challenges, all of these issues will arise again. We must be prepared to defend our corporation tax rate in that context.

On human rights, companies are increasingly cognisant of their corporate and social responsibilities. A raft of international legislation is now in place in this regard. I refer to the UN Convention on Human Rights and the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions which we have signed. In our experience of Irish business, there is a strong commitment to trade in a sustainable and fair way.