Joe Higgins (Dublin West, Socialist Party) | Oireachtas source

To explain to the people out there, maybe you might, if I am correct that ... until, if the present tax arrangement remains, all the losses at AIB, which is let us say, €20 billion, can be written off against the taxes, and that, therefore, going into the future AIB would have to raise, or could raise roughly €20 billion in profit before it would pay a penny in corporation tax. Would that be the way to explain it?