The Chancellor of the Exchequer in the UK said the issue of corporate taxation has moved more in the past 24 hours than in the previous 24 years. I draw the attention of the House to an OECD report produced in May on base erosion and profit shifting. A follow-up volume was produced for Enniskillen, entitled A Step Change in Tax Transparency. It goes forward to the July meeting of the G20. The area is moving very fast and it has implications for Ireland. I ask the Minister for Finance to address the issue of the changing corporate tax base and the wish of international public opinion to deal with the problem of base erosion and profit shifting. It poses a challenge for Ireland to respond to the situation.