Mr. Derek Moran:

Regarding transactions like the Abbvie transaction last year, mergers and acquisitions are not necessarily something we have sight of but the issue in the case in question was that there was a corporation tax issue and a stamp duty issue. That amount has been paid. It is roughly in the order of €600 million. The company has paid this but it will appeal it through the Tax Appeals Commission in the normal way.

We deal with the information we have available to us. Sometimes, through the Revenue Commissioners, we can get more granular information that feeds into the work of Mr. McCarthy and his colleagues on forecasting, including in respect of potential restructurings, changes of payment dates, acquisitions and so on. On the forecasting, does Mr. McCarthy want to give us a flavour of what happens?