Research into exemption thresholds in other European countries clearly highlights that the thresholds in Ireland are considerably lower than those in most of our neighbours. In Northern Ireland the current threshold for turnover is £1 million, compared to €317,000 in the Republic. This means that a company trading in Newry with a turnover of £900,000 is not required to have a statutory audit while a company trading across the Border in Dundalk with the same level of turnover is required to do so, incurring additional costs. This is hardly something that creates a climate conducive to cross-Border trade or an all-Ireland economy. I understand a consultation paper has been published in the North suggesting that the threshold be increased from £1 million to about £4.8 million and that this is under consideration. This would put us at a clear disadvantage. The Minister of State might have some preliminary thoughts on this but we should deal with it on Committee Stage.