Mr. Kevin Sherry:

It is 50 new people. That is across Enterprise Ireland, IDA Ireland and our parent Department. It is 50 additional people above the existing head count. In terms of the 10% tax rate, what is being referred to is obviously capital gains tax, which was changed from 20% with a €1 million lifetime cap to 10% on a €1 million lifetime cap. In the case of the UK, it is 10% on a cap of £10 million. There is no doubt when we look at the startup area that we are in an environment where startups are mobile. The vast majority of startups that we support are mobile. We support over 220 new startups every year with investment and other supports. Those companies can locate anywhere on the globe by and large, which means we have to be competitive. Tax is an important element of that in terms of capital gains and the incentive for people to build their businesses, but it is not the only factor. Access to talent, costs and the availability of quality space and other infrastructure are also key. Access to international markets is also a key factor as are resources, including the resources Enterprise Ireland provides to entrepreneurs. There is no doubt, however, that the more competitive we can be on the tax side, the better positioned we are on that particular agenda or issue. However, it is one of a number of issues. While that is important for companies exiting and for entrepreneurs and investors realising their gains, having companies, entrepreneurs and investors investing in those companies in the first instance is equally important. As such, the EIIS scheme is very important in terms of a tax incentive for early-stage companies. We continue to talk to our parent Department, the Department of Finance and the Department of Public Expenditure and Reform about our competitive position in that area. I pass to my colleague, Mr. Murray, on that because he is involved in leading those discussions with our parent Department.