Micheál Martin (Cork South Central, Fianna Fail)

I thank the Taoiseach for his comprehensive reply. The concept and development of the IFSC is a testament to the vision of Governments in earlier generations, particularly in the late 1980s and early 1990s. We now have 33,000 people employed in what is an important sector in Ireland in terms of its global impact and number of jobs created.

Has the Clearing House Group discussed or undertaken any analysis of the impact of a potential transaction tax on the IFSC? It has been mooted by the French President and in a number of other states and has created tensions across the European Union. I am not referring to such a tax in London. What would the impact on Dublin be if Europe agreed one and the rest of the world did not?

The Taoiseach referred to the green IFSC. Can he give any examples of any concrete steps that have been taken to develop the concept? It has been around for about two or three years. Has the Clearing House Group agreed any specific steps to take to advance the concept into concrete, realisable and tangible outcomes?

Have sharia compliant funds been discussed recently by the Clearing House Group? A recent PricewaterhouseCoopers report outlined the potential return from such funds and the possibility of Dublin acting as a hub for them. I understand other locations like Edinburgh are competing for that kind of business.

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