Mr. Michael Taft:

I cannot be any clearer in what I have said, but I will state my position a third time. Our industrial and enterprise policy has been based on low taxes. If we did not address any other aspect of that policy and simply started playing with tax rates, there probably would be negative consequences because, as I said, our industrial and enterprise policy going back decades has been fuelled by a low tax rate. It is important to emphasise, however, that companies make the decision to come to Ireland or any other country not just on the basis of effective tax rates. They also take account of such issues as whether, for instance, we have a first-class telecommunications system.