Dan Boyle (Cork South Central, Green Party)

I thank the Minister for his reply and welcome him back to the House. The detail in the answer makes a welcome change to the previous lack of openness that accompanied ECOFIN meetings.

Will the Minister say what position he adopted at yesterday's meetings in regard to a number of agenda items? He mentioned the discussion on the new VAT directive. This was on foot of a decision made in 2002, when nine of the then 15 countries decided to adopt the lower rate of VAT for labour-intensive industries, and Ireland chose not to. The Minister might say why that was, and whether Ireland is still of the same opinion.

It was also reported before the ECOFIN meeting that Commissioner McCreevy was meant to be in attendance to outline obstacles which he says exist with regard to difficulties in banks being able to merge. Does the Minister agree with the Commissioner or does he think measures need to be taken to protect the very limited Irish input which exists in the ownership of financial institutions? How would they be affected by any new proposals coming from Mr. McCreevy's office? With regard to reports issued before the meeting on the possibility that a number of countries would use the enhanced co-operation mechanism for a shared approach to corporation tax, was that discussed at the meeting and does the Minister share the reluctance of most parties in this House to go down that road in a collective European Union sense?

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