Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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As other speakers noted, Mr. Fraser cannot discuss some of the issues that must be addressed. For this reason, we need to have before us Ministers and representatives of the large corporate players which are at the centre of the growing controversy around Ireland's purported status as a tax haven. Many of us believe this country is a tax haven and this view is widely held outside the country. I ask Mr. Fraser to respond to my questions in so far as he is able to do so, given the constraints within which he operates. Has the Clearing House Group discussed the allegations being made about Ireland being a tax haven or honey pot for corporate tax dodgers and speculators who view this country as the ideal place to avoid paying tax, make a fortune and make little or no contribution to the tax revenues of the State? Is it discussing the country's corporation tax regime, given that this issue is being widely discussed elsewhere in Europe and the United States? The only reference to this issue that I see in the minutes is a number of reiterations on the part of the Government that it will not, under any circumstances, consider reviewing the country's 12.5% corporation tax rate. Is that the extent of discussion of this matter?

Hedge fund managers, bankers, corporate consultants and large accountancy firms are represented in the Clearing House Group.

Are they commenting on and making proposals and recommendations on corporate tax policy and policy on the financial transaction tax and other tax issues relating to or that would impact on their sector? To what extent are these things being discussed either at the main group meeting or at the subgroup meetings? Ordinary people looking at it could easily draw the conclusion – I certainly draw the conclusion – that the reason corporate tax and the financial transaction tax is a red line issue for this Government, when almost nothing else is, is because of the incredibly unprecedented unique relationship that these bankers, hedge fund managers and corporate interests have with the highest political office in the land. That is the perception. Can Mr. Fraser tell us whether these issues are being discussed at length at the Clearing House Group meetings or the subgroup meetings?