Mary White (Fianna Fail)

While this section provides for capital acquisitions tax, inheritance and gift tax, it has nothing to do with small business. Ireland, despite was has been said, is positive when it comes to new businesses. According to the World Competitiveness Yearbook, it remains an attractive place in which to do business. In the competitiveness league table it is in first place in respect of corporate tax rates, fourth in respect of the availability of skilled labour, fourth in being open to new ideas, sixth in respect of labour productivity and seventh in respect of the availability of financial skills and the flexibility and adaptability of its people. Up to 50% of enterprises in Ireland are engaged in innovative activity, placing Ireland well above the EU average of 39%. While I respect Senator Regan's arguments on the section, they are not precisely to the point in this regard.