Mr. Sorley McCaughey:

We are of the view that there is a recognition that there can and should be variables across the EU. However, we would like to see corporations adhere to that rate, whatever it may be. We have never had any problem with Ireland's 12.5% corporation tax rate. We would be keen to see corporations paying that rate and are using it to deplete the revenue take of developing countries. It is not so much about the tax rate per seas it is about its abuse and the impact on developing countries.