Mr. Derek Moran:

The yellow card would only have been a temporary measure but it would have stopped it. In previous iterations of this proposal, parliaments were not given a role. This is relatively new. It is important and it is a signal. We found in the past a very large quantum of member states have many concerns about this. It would probably significantly narrow our tax base and cost us money on this basis. There is an appetite in some member states to harmonise the base throughout Europe, but this will be agreed as a total package and there is a degree of parliamentary opposition to it. I am not saying it will not happen, and we will engage throughout because not to engage with it would be-----