Mr. Pierre Moscovici:

We have an estimate. Our impact assessment focused on the EU as a whole. The overall outcome is positive, up to 1.2%. We cannot do detailed modelling for every member state at this stage. This is largely due to a lack of technical data. The figures in the impact assessment are based on a model that applies the CCCTB in a neutral budget way. Crucially, the figures concerned do not take into account many of the positive impacts of the CCCTB. They are without any dynamics, such as the impact that increased growth in employment will have on tax revenues. Even excluding these positive factors, and with the limitations I have mentioned that need to go, the estimated impact on Irish tax revenues is considered to be very small, -0.2%, and will be positive.