Dr. Alan Barrett:

The FDI paper was written by a colleague. The corporation tax rate in the UK has gone up to about 25%. There is quite a difference.

As the Deputy will know, there has been a long discussion in Northern Ireland on the possibility of a reduced corporate tax rate. Previously, there were moves to bring it down to what was then the Irish rate of 12.5%. It is not overly controversial to say that if the tax rate was to go from 25% down to 15%, it would increase the amount of FDI. We are back to the possibility of the diversion of FDI from Great Britain to Northern Ireland. That was based on the idea that Britain would hold its corporation tax rate but Northern Ireland would get an exemption. That is perfectly possible and even plausible.