Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I thank Mr. Coffey for bearing with us. None of us thought we would be here at this hour. We thought we would be putting up our election posters in west Donegal. I have a couple of questions. I want to commend the witness in regard to his work and also in regard to the blog that he put up which teased out one of his proposals. That is the 80% cap that has been enacted on budget day. It allows for the intangible assets transferred here to remain within the 100% ceiling. Has the witness concerns in regard to that? I know from Mr. Coffey's blog that he estimated that if that provision did not exist in our Finance Bill, then we could potentially, based on a number of scenarios looking forward and looking back, achieve about an extra €850 million in tax per year. Is there any reason why that should not happen? Would it not be retrospective taxation as some would claim?