Paul Coghlan (Fine Gael)

I am grateful to the Minister of State for his remarks, particularly regarding the need for compliance statements. When he and his officials have had an opportunity to consider the matter further, I look forward to his informing us that the level of the threshold for the compliance statement will be increased and that all small and medium-sized businesses will be removed from its scope.

I accept the Minister of State's reply in respect of amendments Nos. 14 and 15. However, my sole concern is that we would not put ourselves at any competitive disadvantage. I wanted what will be available here to be in line with that which is available in other EU member states. During the debate, great emphasis was placed on the position in Northern Ireland and Britain, which are our nearest neighbours. We are aware that the authorities in these jurisdictions are considering raising the threshold to £4.8 million. Apart from costs considerations, my sole concern is that, because competitiveness is so important, we would not put ourselves offside in terms of trade by increasing costs, losing jobs, etc., and thereby damaging the economy.

Amendment, by leave, withdrawn.