Kevin Humphreys (Dublin South East, Labour)
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I thank the witnesses. I have a keen interest in this issue. I would like any decision we make on FTT to be research-driven and evidence-based. A total of 33,000 people work in the financial services centre and it has been suggested that 3,000 of those could be affected if an FTT is introduced. That said, I maintain the need for research and for decisions to be evidence-based on whether such a tax would affect the economy.

Ms McVeigh mentioned the possible effects of the introduction of such a tax compared to losses in stamp duty revenue. Reference was made to between €163 million and €443 million. She indicated that because this country would have to abolish stamp duties the effect of the changes would be revenue-neutral.