Stephen Donnelly (Wicklow, Social Democrats) | Oireachtas source

I thank the Professor. I have a final question. One page four of the council's pre-budget submission, capital stock shows a huge spike for 2015. It references the fact that this is down to a small number of corporates, but because of confidentiality we cannot talk about them. I was taken by, and agreed with, Dr. Conefrey's analysis. When one runs the numbers, it is hard not to conclude that the corporate is Apple. It is Apple, not being able to pay tax anywhere anymore, re-domiciling its IP or whatever and its non-domiciled headquarters here. It is not really to do with inversions and it is not much to do with aircraft leasing. The major part of this 2015 massive jump in GDP and capital stock is basically Apple. Is that the view of the council? Can the witnesses comment on that?