Mr. Barry O'Leary:

It is because our transparency is winning us more business than those locations. We win more FDI in the sectors we go after.

We have a very high market share because of that transparency, the longevity, the regime itself and the fact that Ireland over the years had a consistent corporation tax policy in terms of helping investment overall in the country whereas other countries come in and out. The Swiss, for example, have been coming under a lot of pressure, particularly from Germany, because of the discriminatory nature of their tax offering. They have come and said that because it is discriminatory, they will make it available to everybody but they have signalled a five-year transition period in four particular areas that they are looking at whereas looking at the Irish system, it is not discriminatory