Brian Cowen (Laois-Offaly, Fianna Fail)

I can confirm what the Deputy had to say regarding the latter matter.

On the question of taxation policy in other jurisdictions, that is a matter for the governments of those jurisdictions. The matter was raised by investors at the question and answer session and the Prime Minister outlined his well-known view that when one takes account of allowances and other arrangements, the net position compares favourably to our 12.5% rate. These are matters to be constantly considered by investors. It is fair to say that Northern Ireland has been improving economically for some time, particularly as the peace process becomes, hopefully, bedded down. They have areas of competitiveness and, even if it is not possible to achieve exact parallels between North and South on corporation and other tax rates, the logic of the island economy as a whole means that in respect of many projects, packages can be devised which derive benefits from the competitiveness on both sides of the Border. I would like to see more such efforts on marketing both sides together and various agencies are active in that regard. We have to continue to co-operate and build trust between us in respect of these areas.

In my former position as Minister for Finance, I have been able to work with the First Minister elect — if his nomination proceeds tomorrow — to market the island for financial services and to reap the benefits that result from an island approach in terms of providing additional jobs on both sides of the Border. That represents a pioneering effort on our behalf and shows how others can do likewise in the future.

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