Mr. Michael Taft:

In terms of the idea of a minimum effective tax rate, which was the question, we have to be careful because those companies, whether multinational or indigenous, which deal in the productive sector of the economy, particularly in capital intensive sectors, would have a lot of legitimate allowances. Such allowances would form part of any progressive corporate tax strategy because we want to encourage that type of investment in the economy. We would have to be careful of a minimum effective tax because, as Mr. O'Brien stated, company A is not like company B or company C, as they work in different sectors. As always, no matter how we refigure, rethink or play out scenarios, the key is whether this tax rate will generate revenue for the State, whether it will promote investment and whether it will help boast employee compensation. A tax rate cannot do all of those things. It has to be integrated into broader policy. However, that is the key. Other countries seem to have found the key or at least a room that gets them into the big room. We are still outside in the hallway.