Mr. Niall Cody:

The Deputy is aware that the Finance Bill completed all Stages in the Dáil last week and will be brought before Seanad Éireann next week.

There has been fairly considerable debate regarding the use of losses in the financial sector. It is a policy issue. There was a restriction in place affecting the National Asset Management Agency, NAMA, banks a number of years ago. That was changed and the levy was introduced on banks to reflect the fact that this process had taken place. However, that is ultimately a policy matter. We implement the tax code having regard to the rules set out in law. Losses - including losses carried forward - are a standard feature of the tax code in practically all developed countries.