Stephen Donnelly (Wicklow, Social Democrats) | Oireachtas source

The vulture funds typically pay an amount of €250, and in this case the tax was nearly £1,600, but the intention is that they do not pay any tax. The vulture funds are a legal mechanism whereby the vulture fund company makes a national payment to signal it has closed off its tax books, and in this case the company paid that amount of tax on the taxable profits of £168 million. I thank the Minister very much for his response.

I wish to follow up with two brief questions. When Mr. Ó Muilleoir said he will bring the North in line by reducing its corporation tax rate to 12.5%, does he intend to do that at a different rate from what will happen in Britain?