Ms Michelle Murphy:

With regard to the corporate tax rate, when SJI drafted its model, we made an assumption about an aggregate effective tax rate and the spread of tax rates above and below the figure. Assuming the aggregate effective rate is 6%, for example, that means one has to look at the spread of aggregate rates from 0% to 3%, 3% to 6%, 6% to 9% and 9% to 12%. We based our calculations on those rates and we looked at issues such as reductions in management, expenditure, capital allowance and all of these other things that companies claim before they pay their tax, and we came up with the figure of €1 billion.

In terms of social housing, we gave a figure of €250 million, which is the tip of the iceberg. We would also like to see our other proposal implemented. I refer to an agency taking control of the local authority housing stock and using it as collateral to borrow off the books in order to raise the billions of euro required to address the social housing crisis.