Mr. Tom O'Mahony:

I am conscious in answering this question that I am disobeying the stricture imposed by the Chairman at the start of the meeting to the effect that I should not address matters that are not directly related to the subject matter under discussion. What I can state is that a detailed cost-benefit analysis was carried out by Deloitte on behalf of the tourism industry and has been provided to the Department of Finance. While that Department will have to do its own analysis of the report, the view expressed by Ministers in our Department is that the analysis supports the position that there is an economic benefit to the State in maintaining the current rate. The Ministers also made clear, however, that they accept the State is in extremely difficult budgetary circumstances and drawing up the budget will be very difficult for the Minister for Finance who will have to do as best he can within current constraints.