Ruairi Quinn (Dublin South East, Labour)

In the same spirit, I welcome any measure that tidies up our legislation and ensures Ireland is a first-class location in legislative terms for financial services. There is an entire industry, with 16,000 people engaged in employment, in the International Financial Services Centre in the docklands. There is probably more legal firepower contained in one of those companies than there is in the Attorney General's office because the stakes are so high. We need constant review. The legal minefield of this part of the world of commerce is like a complex garden that must be tended to every day.

I accept this amendment. I am not in any way opposing it. Frankly, I do not understand the complexity of it, but I do understand the complexities of the issue in general and the constant need to be vigilant because this makes Finance Acts look like child's play.

I invite the Minister of State, when we have some time, to come to the Joint Committee on Enterprise and Small Business to go over the ground and explain the implications. This is getting up the value chain in terms of employment and we will not stay there unless our laws are absolutely in the premier league. In that spirit, I welcome the amendment.

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