Seán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

I thank the Senator for bringing up this matter. We have had a discussion on it. I want to clarify one or two issues and respond to the general point made by the Senator.I assume the intention of the Senator's recommendation is to propose consideration of restricting corporation tax loss reliefs for banks to a maximum of 50% of their profits each year. That was the position at the time of the bank crisis but it was amended subsequently - I forget the particular year - to allow them bring 50% of their losses forward-----