Brian Hayes (Dublin South West, Fine Gael) | Oireachtas source

I should say, wearing my Department of Finance hat, that I am not generally in favour of ring-fencing. Given that we have a monthly deficit of ¤1 billion, we have to keep all our options open. The key argument in favour of this decision, as made by Senator Gilroy, is that it meets two objectives at once. Senator Ó Clochartaigh asked whether we should not tax these companies. Perhaps that point would be better made on Capitol Hill with reference to the large tobacco plantations of North Carolina and South Carolina. I have been to various parts of the country recently, but I have not seen any tobacco plantations growing in the nice fertile soil of east Cork or elsewhere. My understanding is that no substantial manufacturing in this area takes place here. Is there any manufacturing at all left in the country?

I am not sure Senator Ó Clochartaigh's goals can be achieved, unless he is suggesting that Ireland should impose some extrajudicial form of taxation on tobacco plantations of the Carolinas. We have to be honest about the unfortunate reality for people who smoke. We are sending a clear message to people that they should do their best to desist from smoking because it damages their health. The State has to pump an enormous amount of money into the Irish health care system each year as a consequence of the damages and dangers caused by smoking.