Alice-Mary Higgins (Independent) | Oireachtas source

I believe 70% of the beneficiaries of the private pension package are in the higher tax bracket and beyond. That is not what we are here to discuss but I just mentioned it because the conversation had gone there.

I thank Dr. McDonnell, as this has been a really interesting analysis. It has been reassuring in some ways and challenging in others.

The digital services levy has been mentioned as a levy that Europe may exercise. Dr. McDonnell talked about short-term and long-term impacts and advocated not taking a low road in making short-term economic decisions, not just in terms of tariffs, but also in terms of other policies, including on employment and the environment, that may actually affect our competitiveness in the longer term. Could he talk a little about that? I ask in the context of the US pitching the idea of a new advisory body for the Digital Markets Act that would result in a particular impact for the companies concerned. This has been thrown into the mix with respect to the EU–US trade deal. The US has been quite aggressive in making companies remove their diversity and equality measures, and it has been pushing back on environmental policies. It has been reaching deeply into the policy space in respect of EU governments, collectively and individually. Is there not a competitive advantage to having policies that recognise the environmental realities or contribute to, rather than take away from, social cohesion? If we chase the deregulatory agenda to appeal to or win points in the tariff war, is there a danger that we will actually find ourselves economically disadvantaged in the medium term?