Ms Anne Gunnell:

I agree with much of what Deputy Durkan is saying. That speaks to the point we made at the very end about unintended consequences. It is always very important to evaluate any tax measure before it has been implemented because it could have an unintended impact and such as an economic impact, whether increasing a rate or a change in an exemption that already exists. I know the Commission on Taxation and Welfare recommending changes to retirement, agriculture and business relief for capital acquisition tax, CAT, purposes. It is trying to address very good policy intentions with regard to intergenerational transfers and trying to protect income-generating assets with regard to farms and businesses, because there could be liquidity issues by forcing a tax liability that could force sale. What the Deputy is saying is right.

With regard to the wider piece about competitor countries, we should always try to make sure that Ireland compares as favourably as it can with regard to its tax offering especially with the country across the water being outside of the EU-----