Ciarán Lynch (Cork South Central, Labour)
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Taking on board what Ms McVeigh said, there certainly seems to be a level of reservation in the Department of Finance and in the Government on this issue. If it were to proceed, has some consideration been given the sort of negative results which might arise? Will there be relocation of financial services from the EU? Will tax avoidance measures arise? Will this reduce the trading volume in the European Union? What will be the corresponding effect on corporation tax and other taxation receipts? Has some sort of impact study been done on us staying outside it and the 11 member states going ahead with it?