Mr. Brian Keegan:

Our history of responding, in particular to the BEPS project, has been absolutely outstanding. We talk about our conflict, for want of a better word, with the European Commission at the moment but a range of directives have been brought into play, in terms of information exchange and co-operation in the recovery of taxes across borders, which Ireland has signed up to with some alacrity. The consequence of that has been that the system has become progressively more and more insulated from attack and the consequence of that has been that the corporation tax yield has gone up by 50% in the last two years. We are going in the right direction.

As I expressed earlier to Deputy Michael McGrath, I am a bit concerned about the consequences of this case for the best process overall. Even prior to the inauguration of President Trump, the US authorities already seemed to be beginning to push back on some of the developments and this is clearly not helping.