Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Agreement at OECD level can only be reached if that agreement and both pillars operate on a fair and equitable basis. While we know that developing countries will, in all likelihood, be pushing for stronger measures under pillar 2 to increase their own revenues, it is now clear that members of the G7 are seeking their own exemptions and carve-outs for strategic companies, industries and sectors in their own economies. The British Government, for example, is reported to be seeking exemptions under pillar 1 for financial services in the City of London, with HSBC, its largest bank in terms of revenue generating more than half of its income in China. Given that G7 members, like all countries and jurisdictions under the inclusive framework, will press for an agreement that serves national as well as international interests, it is only proper that we work on securing an agreement that serves the common, global good but also Ireland's national interests. At this early stage, does the Minister have any views on what that would mean vis-à-visthis pillar?

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