Mr. Seamus Coffey:

-----that there has been an increase. We would not keep highlighting the risks of corporation tax, if it did not keep increasing and did not become such a large source of Government revenue. There are links. The Deputy talked about the effective tax. As the profits have increased, the corporation tax receipts have increased. We are seeing the effective rate. Once the profits have been reported, close on 12.5% is being charged. If one looks at the change in the profits and the change in the taxes, they are linked.

I previously did a report on the effective tax rates. One could think the turmoil in the economy in recent years in relation to some of the figures bouncing round would undermine it. It actually has strengthened the conclusion there.