Mr. Fergal O'Brien:

The feedback that we have about what is happening in the labour market suggests we are at a point of capacity pressure. The entry to the marginal tax rate is a factor on that marginal contribution of labour, whether it is overtime, a promotion or an extra shift, and that impacts on businesses' capacity at the moment. It also impacts significantly, however, on our ability to bring labour back into the country. There will be demand for between 80,000 and 100,000 construction workers to meet our housing and national development plan requirements over the coming years but we are struggling to bring people home. The marginal tax rate is part of that challenge. It is not the only factor, but it is part of it.