Eoghan Murphy (Dublin Bay South, Fine Gael) | Oireachtas source

Deputy Donnelly is talking about a company, but what we are talking about is funds. Some of the things he points to in his remarks are perhaps pointing at a more significant or fundamental approach to funds and how they invest versus the purpose of a fund or some of things we try to achieve in allowing funds to be established, such as removing that layer of double taxation, versus the individual or a group of individuals investing in a popcorn stand. They are not being taxed twice because they invested as part of a group. The benefits that come from that either in terms of leveraging it include risk diversification, investor knowledge or the larger investment pool to make a more substantial investment. On the point Deputy Donnelly is making about there perhaps having been a change in how property was treated from a taxation point of view because of what funds began to do and what we are now trying to capture-----