Michael McGrath (Cork South Central, Fianna Fail)
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The Minister has made clear on several occasions that the Government's position on a financial transaction tax, FTT, is that we will not seek to prevent other countries from participating but we do not propose that Ireland participate at this stage. It is a position we support. The Minister said there will be a state of play discussion on the FTT at the ECOFIN meeting. How many countries are expected to participate through the enhanced co-operation mechanism, have they agreed the rate of the FTT and when will it take effect?