Ms Nessa Ní Chasaide:

On the theme of automatic information exchange, Debt and Development Coalition Ireland also would like to see a stronger stance from the Government with regard to allowing a transition period for global south governments to meet the new standard that has just been announced by the Organisation for Economic Co-operation and Development, OECD, in recent weeks. There should be a period in which global south countries can be given the information on tax matters for companies and individuals in their jurisdictions but they may not have the capacity to reciprocate.

On country-by-country reporting, Ireland should announce it will demand this much higher level of information from companies that are operating in Ireland. Moreover, a start would be with large companies that have come under greater scrutiny in recent years, not least through parliamentary committees in the United Kingdom.

Finally, the coalition notices the Department of Finance has noted the leading grouping on policy-making in this area is the OECD. The coalition very much advocates that this should be within the United Nations system because global south governments do not have a voice in the rich club of OECD nations. This also should be addressed and should be a matter of concern to this joint committee. To move on from the tax issue, I hope there will be a different hearing on that theme, which we would greatly appreciate. Moreover, in response to Senator Norris, we will follow up by suggesting groups and individuals who could appear before the committee in that regard.

As for the further issues raised by Deputy Durkan regarding debt, the private sector contributions to the debt relief schemes have been much smaller. Moreover, some of them have been in commitment form and have not been delivered upon. The problem with the heavily indebted poor countries debt relief scheme is that it was voluntary for the private sector to participate and, consequently, has proven to be a disappointment in that regard.