Mr. Martin Shanahan:

It is all a judgment and all we can do is what we do currently. We are engaged with companies every day of the week trying to work out what will differentiate Ireland. Increasingly, given the global changes I have outlined, tax will continue to be part of our competitive offering and we should make it as competitive as we can. For instance, in the context of introducing a knowledge development box, the Minister used the phrase that it will be best in class and aligned with international best practice. We should go to the very extremes in all of what we do to attract investment. However, we also need to do the other things that would give us even greater differentiation and more competitiveness in respect of the availability of talent - which is where all the actual differentiation will come in future - having the available infrastructure, having the property solutions and having attractive places in which to live and work. They are equally important and for a lot of the cohort of companies we are attracting, they want to know that they actually can do things in Ireland. They want to know that they can set up and they want to scale up quickly before they ever get to the point where they are talking about paying taxes.