Michael McGrath (Cork South Central, Fianna Fail)
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Regarding corporation tax, in the next couple of weeks I will publish a scoping paper that will set out our thinking on a long-term savings vehicle. It will be related to those windfall receipts that have been identified. The paper published by the Revenue today highlights not just the extraordinary growth in the receipts but the increasing concentration that I am sure the Deputy will have seen, with the top ten now accounting for 57% of corporate tax receipts, up from 53%. Corporate tax is now the second largest tax head and represents 27.5% of net tax receipts. It is a significant increase. There are growing receipts but, at the same time, there is increasing concentration. The intention is to bring forward a scoping paper in the next couple of weeks. There will have to be, ultimately, legislation to underpin a new fund-----