Mark Daly (Fianna Fail)

Do not hold that against us, a Chathaoirligh. Mayo will definitely rise again.

I welcome the Minister to the House and I thank him for addressing this important issue, which was raised by our alleged friends in Europe in their continued attempt to harmonise our corporation tax rate with their level, thereby taking away our competitive advantage. We are well aware that the French and the Germans want to bring more control and are using this European crisis to try to force members of the eurozone and the EU into a situation whereby the financial policies of Ireland and other EU member states would be controlled by a central finance ministry. This has all the hallmarks of an attempt to create a federal state by the back door.

The EU made an attempt to bring in a constitution but this failed. It then decided to bring about a constitution by the back door when it brought in the Lisbon treaty. This did not have the backing of the majority of people, because it was not put before the people. Finally, I am sure those in favour of a federal Europe are rubbing their hands in glee. I think it was Dick Cheney who said that one should never miss the opportunity provided by a crisis.

In view of the current situation, which is changing by the hour, I ask the Minister to address the issue of where Ireland now stands on the common consolidated corporate tax base. We made a submission to Europe recently, which was the only submission made by this Parliament on proposed EU legislation. Under the Lisbon treaty we are, as a Parliament, allowed to make submissions on forthcoming EU legislation, and the only time we have done so was with regard to the CCCTB. I ask the Minster to update the House on where we are at this moment on this important issue.