There is nothing like a strong tonic in the form of a collapsing oil price to help a stock market bull who is starting to sweat following a long run.

Following deliberations by the Oireachtas Sub-committee on Finance last week on the subject of philanthropy, Minister Noonan has promptly declared that a proposition to extend the right of multimillionaire tax exiles to reside in Ireland for up to 244 days per year, without any further liability to Irish taxation, “attractive”, if they were to buy this right in the form of philanthropic payments of €15m to unspecified charities over a period of 10 years.