Ms Michelle Murphy:

No; we are recommending a minimum effective rate of 6%. We have done some modelling. I refer to a number of reports, the one that is quoted most is the PriceWaterhouseCoopers' report, but it does not necessarily reflect the majority of corporations in Ireland that pay corporation tax. Following some modelling we find that some corporations pay tax at a rate between 0% and 3% and 3% and 6%, while others pay at a rate between 6% and 9% and 9% and 12%. We are saying that if a minimum effective corporation tax rate were to be implemented, significant revenue could be generated. We are saying the minimum effective rate should be 6% because the majority of Irish companies pay at between 9% and 12.5% because they are not all exporting.