Mr. Speaker, we now know what is happening in Ireland. Ireland's economy rose when it received transfer payments from the European Union in order to help with its have-not status. It did very well for 10 years, and then, in order to encourage everybody to invest in Ireland, it kept lowering and lowering corporate taxes to bring in investment. Ireland is now in the doghouse. It is at the bottom of the heap and cannot sustain itself.
In the House of Commons on February 17th, 2011. See this statement in context.