Simon Harris (Wicklow, Fine Gael) | Oireachtas source

Some of the Deputy's language was unfortunate and out of character. The Minister for Finance, in the Deputy's years of dealing with him, has never been known to be disrespectful. He engages, responds and puts his point across forcefully. Not even his own most ardent political opponents would believe the Minister to be a fool. The economic markets looking at Ireland and the turnaround of the Irish economy would not call the Minister a fool.

We are dealing with a complex issue. We all know international tax is a complicated issue. There are many double taxation structures in place around the world. We are unfortunate ours had a very catchy name - the "double Irish". There are countless examples of double taxation standards and double mismatches, if one likes, of international tax. The Minister has made the point - I make the point - the Government has made the point and any objective observer would make the point that Ireland on its own cannot end double tax structures. However, Ireland could and did take measures in this legislation to end the potential damage to our reputation as a result of that label. That does not mean that double taxation structures have all of a sudden gone away. Either Deputy Doherty or Deputy Boyd Barrett referred earlier to other countries which already have such structures.

The Minister has made a decision. I appreciate the Deputies do not like the timeline but they support the decision. I respect Deputy McGrath's position on the importance of certainty and I have tried to respond to that. However, the amendments and section we are dealing with today is a progressive step forward. It gives Ireland first mover advantage. While investors looking at other countries are wondering what will happen to their various tax structures, they can look to the three Rs - rate, regime and reputation - for Ireland and have certainty. We are probably not going to agree further on this point.