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

I thank the Deputies for their comments. Regarding Deputy Doherty’s questions, the 16% rate is to ensure it is GBER compliant. As to the timeline, I want to commence this as quickly as possible, and certainly no later than quarter 1 of next year, in part due to the risk Deputy Doherty rightly highlighted. It is only new investments following the commencement of this provision that will benefit. We want to minimise the period from now to the commencement of this new provision, which is why we will be working with Revenue and Enterprise Ireland to ensure the mechanics are nailed down as quickly as possible. It will be quarter 1 at the latest.