Mr. Niall Cody:

Certainly the changes made over recent years have been more to remove features that we would not have seen as part of the Irish tax system. The infamous "double Irish" tax arrangement, which was not in our tax code, was an exploitation of mismatches between different taxes, but that was how it was labelled. The Minister has removed that label. That has had no impact yet on the tax payable in any country. It removes a cause of finger-pointing at us. One of the features of the international tax debate is that countries which have many common interests will fight fair but fight to win, as the Minister has said. Foreign direct investment is a very competitive area and tax is part of that process.