Mr. Michael Taft:

Others have made that claim and we have pointed out in our submission that this is an issue. We just want to deal with the macroeconomic data. Other people such as Professor James Stewart can address the issue of Ireland being considered a tax haven conduit. We do not have a particular position on that because, as a union, we have been focused on issues of fiscal and economic impact, not only the corporate tax rate but also other things. If I may make a point that goes some way towards answering the Deputy's question and following from Mr. O'Brien's points, there could likely be negative consequences if the corporate tax rate were to be unilaterally increased to whatever was decided and if that were the only action taken. There could be negative consequences if the country were to unilaterally move to break what it has been doing for the past two or three decades and on which it has based its industrial and enterprise policy for that time. The country has allowed a situation to arise whereby it has a multinational-dominated export sector, a multinational-dominated manufacturing sector that generates pretty much all the exports, a significant portion of the gross value-added products and the sales revenue. The idea that, using that base, the country can just play with the tax rate or play with the tax relief requires careful thought. That is the reason my union has said that defining the effective tax rate should be the first step in exploring a whole number of other questions. There is a need to take care because it is very wide and very deep and it is something we have been doing for a long time.