Gerald Nash (Louth, Labour) | Oireachtas source

Absolutely.

Moving on from that, it is very hard to disentangle the current US position on tariffs from the G7 agreement on tax and the carve-out that was apparently agreed at the last G7 round of talks in Canada. I have no doubt that Trump was using and conflating tax and tariffs to get an opt-out in terms of the BEPS pillar 2 process on the 15% rate and our ability to be the policeman to collect the top-up difference between the 12.5% and the 15%. Even off the top of his head, does Dr. McDonnell have an assessment - the Minister for Finance does not; I asked him last night - of the implications for our corporation tax base? It is still early days and if this were to come to light at all, it would require new European legislation and for that then to be transposed. We had enough difficulty transposing legislation here in terms of the OECD agreement. Will it have an impact on Ireland's attractiveness for FDI, our corporation tax base and what we actually collect in that regard?

Mr. Gerard Brady of IBEC has said we would collect a little less but that it would be marginal. Does Dr. McDonnell agree?