I React in Dis-belief...

... and I hope that I am not alone.

Our Minister for Enterprise has expressed his "utter disbelief" that the ICTU is, among other things, suggesting that BES investments would be used as a tax-avoidance measure.

Neither I nor (I imagine) the ICTU is unaware that many BES companies benefit from the scheme, and that the State does well from its investment in some of them.

But the BES has been a terrific tax-avoidance scheme for all of its history, and most higher-rate taxpayers know it for nothing else.

I must refresh my knowledge of the cost-benefit studies. The last time I checked, the results were decidedly dodgy.

I hope that Mr Martin is not about to join the Martin Cullen school of project appraisal.