Mr. Sebastian Barnes:

I think the real risk is that this is something that is not under Ireland’s control. Ireland does not have a great deal of influence on what will be decided in the United States. It might have some, but the US will mostly decide on the basis of what it believes to be in its interests. That is why the main thing that we can do in Ireland is to plan, so that if the likelihood materialises that we lose a big chunk of corporation tax, that will not make a big hole in the public finances because we will have prepared for it properly. That is the best we can do because it is essentially out of our control.