Professor Jim Stewart:

May I make a comment on the $143 billion? The $143 billion includes quite a lot of dividend income. As I said in my introduction, I am a bit puzzled about the measure of profits arising in the IFSC in Ireland because the IFSC as we know has €2.1 trillion in assets and one would expect quite a lot of profits to arise from that. They do not seem to be captured in Irish data but they seem to be appearing in the US Bureau of Economic Analysis data. One can strip that out and I think the figure for 2011 is $86 billion in profits earned in Ireland. That is by the non-financial companies mostly.