Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Let me move on to the financial transaction tax, FTT, which is also one of the legislative measures on the agenda on Friday. As the Minister indicated, ten or 11 member states signalled initially their intention to go ahead under the enhanced co-operation mechanism. They include France, Germany, Italy and Spain. The Minister's stated position is that Ireland will remain outside the FTT arrangement, for now at least, primarily because of the United Kingdom's decision to remain out of it and the fear that we might be put at a competitive disadvantage given the mobile nature of financial services, particularly regarding investment. Does this remain the Irish position?