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Ireland: Financial Assistance

My Lords, we on these Benches welcome the Government's decision to support the bailout. I am depressed but not surprised that the Chancellor feels that if he is giving support via a European fund, that is not to be welcomed, whereas if he is signing the cheque directly from the British Exchequer, that is great. However, no doubt that is politics. Perhaps I may take up the question of the noble Lord, Lord Reid, and the Minister's response, on the subject of the IMF and conditionality. As the Minister said, the IMF has a long track record of conditionality on the loans that it has made. Sometimes the conditions have been extremely contentious. What can the Minister say about the loan conditions that are being discussed? For example, have the partners who are making the loan pressed Ireland on its tax rates?