Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

The approach by the Department and Revenue on that question so far has been to examine the combined effect of both Pillars 1 and 2. The estimate given is of a net cost of €2 billion. We have pushed out the inclusion of that, in the projections we set out in the budget, by a further year. It is a combined net cost of €2 billion of the two pillars being implemented. We have not calculated the impact of this pillar on its own because we anticipate that Pillar 1 will be concluded and will have an impact on Ireland, and it will be a negative impact.