Ms Michelle Murphy:

At present, the criteria remain the same. We will look at new data in terms of the number of people at work and then re-examine the criteria. The tax gap was highlighted and if we were a low tax economy, as defined by EUROSTAT an extra €4.7 billion to €5 billion extra per year could be reaped. On the refundable tax credit proposal, a research and development, R&D, tax credit with a payable element is open to corporations at the moment. If corporations do not pay enough corporation tax they get a cash refund from the State and, at present, this accounts for 42%, or €112 million, of the total cost of the R&D tax credit. We are making cash payments to companies that cannot claim their full credit but we are not providing refunds to very low income workers.