Mr. Terry Quinn:

The Apple decision reflects what is essentially the legacy of previous taxation law, and that actually has changed. In a sense that happened some years ago. To some extent, the increase in corporation tax receipts in the past two years reflects that and so it is already in the base. There is not really any sense that the change has had an impact on foreign direct investment and the attractiveness of Ireland for FDI in recent years. We are still attractive. The reasons we attract significant amounts of FDI are still in place. Perhaps, though, the uncertainty arising from the ruling is relevant.

It will be appealed so it will not be clear how it will pan out for several years, and that is unhelpful. The fact that it is reflecting the impact and legacy of previous legislation which has in turn been changed suggests that it is unlikely to have significant impact in the long term.