Mr. Niall Cody:

We and the UK have similar VAT rates and quite similar excise duty rates. Ireland has cheaper road fuel while the UK has cheaper drink. However, the margins are such that there will be cross-Border shopping but it will not put a hole in the Exchequer receipts. If there are abuses higher up, and we discussed smuggling earlier, they are the challenges we will have to address. However, we have always had to address them while we have been part of the Single Market, because of excise duty differentials on high volume stuff.