Pat Rabbitte (Dublin South West, Labour)

The question the Senator must answer is that if the tax take for the last 30 years at 25% has been too low, why have exploration companies not queued up around the coast and why are the gushers not coming onshore all over the country? My predecessor, Mr. Eamon Ryan, increased the tax rate on a sliding-scale basis from 25% to 40%. Now the Senator wants me to increase it further while securing a greater level of exploration activity. If companies were not attracted by a 25% rate, how will they be attracted by a higher rate? I have great difficulty in understanding the Senator's position.