Yield rates before tax in Germany in the period from 1995 to 2000 ranged from 12,6 % to 17,6 % for regional banks/savings bank and from 13 % to 16,5 % for all banks (top 100).

Thirdly, I just want to ask people to lay off a little with regard to corporation tax because, firstly, it is a matter of subsidiarity; secondly, other countries in the EU have similar rates; and thirdly, it would exacerbate a very difficult situation in Ireland at the moment.

As a result of the safety buffer of some [...]** %, the equity return — for the same pre‐tax earnings — also fell by about [...]** % compared with competitors since the pre‐tax earnings related to a larger amount of own funds.

Over time, however, a reduction in equity return could be observed. In the regional banks/savings bank sector in particular, it had fallen from 17,6 % in 1995 to 12,6 % in 2000.

In this respect, it was considered that the profit margin before tax of 12,9 % on turnover claimed by the Community industry was an appropriate basis, regard being given to the need for long-term investments and for a rate of return, which the Community industry could reasonably expect in the absence of injurious subsidisation.

(ii) promote the quality of public expenditure by redirecting towards physical and human capital accumulation and research and development so as to increase the potential growth rate of the EU economy; a sound balance should struck between reducing public debt, lowering taxation and continuing the funding of public investment in key sectors so as to ensure that ‘governance’ of the processes of restructuring and their social repercussions is accompanied by investment in infrastructure and services capable of generating new jobs and to promote better-quality public spending by channelling it, above all, into investment in human capital th ...[+++]rough research and innovation, training and lifelong learning and the encouragement of innovations in the organisation of work capable of enhancing the quality of work so as to achieve a substantial increase in the rate of investment in human resources;