Mr. Sorley McCaughey:

To be honest, I do not think that is the question because, essentially, it brings one down a blind alley. The OECD’s definition of a tax haven is so useless that, essentially, no country is a tax haven. To get stuck into the nitty gritty of what constitutes a tax haven really is to miss the point. What we should be looking at is whether Ireland’s tax rate has a negative impact on other countries. Our particular interest is in whether it has a negative impact on developing countries. Committee members might be interested in the situation at a European level, but, ultimately, the issue at which we should be looking is whether Ireland’s engagement with tax competition is having a negative and unsustainable impact on other economies.