Mr. Peter O'Neill:

I endorse that in terms of the feedback of our members. We met with approximately 50 CEOs this morning in the first of our forums. Top of their agenda is this whole question of attraction and retention of talent and, therefore, of personal taxation. In fact, one example quoted this morning came from a company which is trying to persuade a particular key individual to move from the US to here. Given a marginal tax rate of 35% in the US versus 52% here, it is a difficult sell if one is trying to persuade a key individual. As Mr. Cotter said, while recognising the overall fiscal challenge over the next number of years, we need to be very careful that we do not impose any further burden.