Mr. Derek Moran:

I have no doubt that as we work through the data, we will make that available because it is important for people to understand and have confidence in what is going on. The Deputy is right to say the flow of foreign direct investment continued throughout the darkest days. Our colleagues in the IDA have done a remarkable job and have ambitious targets. When a company sets up, it takes a bit of time before it starts paying tax. It does not pay tax from day one. That flows through eventually. Both Mr. McCarthy and I have said, and it features in the chairman’s letter, that the small and medium enterprise, SME, sector, is characterised as the smaller payer of corporation tax, but there are now more SMEs. Those that were paying tax are paying more. In respect of the uplift in corporate taxation, the concentration in the top ten groups has not changed proportionally. It is approximately one third. It is good news. We have to be cautious. At the level we are at, in terms of corporation tax collected and assuming we get what we are expecting in December, we are there or thereabouts in the target for next year which removes some of the risk while we are doing this analysis.