Michael Noonan (Limerick City, Fine Gael)

I do not believe the Deputy's figures are correct. The concession, or arrangement, is that the reductions for Greece and Portugal did not apply to money already drawn down - only to that going forward. Therefore, the Deputy's figures are much greater than that for the actual available reductions.

This matter is always on the agenda. We have negotiated a position in which we have the support of the IMF, the European Commission, the OECD and, I believe, 25 of the 27 member states. We will continue to push for it because we were promised it and should get it. However, although we are not prepared to give any concession on corporation tax - either on the rate or the base - in exchange for it because it is too important to us, we are prepared to consider suggestions elsewhere in the programme.

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