John Paul Phelan (Fine Gael)

I welcome the amendments. A number of my college friends work in financial institutions and fund management companies in London and they brought to my attention the window of opportunity for Ireland, especially in light of the taxation changes announced in the recent UK budget. Many leading financial institutions operating in the City of London are actively looking at three or four other possible locations for their activities. I know that Dublin is being actively considered. I assume these amendments are part of making Dublin a more attractive investment proposition for some of those institutions. For that reason I am glad the Government has introduced these amendments and I fully support them.