TIME was when a decent socialist would be afraid to stick his head around the door of an IBEC annual business conference, let alone address it. Times have changed.

Take Ruairi Quinn, who last week had the temerity to boast of his achievements as finance minister to the assembled throng. Thanks to him, he said, companies earning profits of £50,000 now pay tax at 28 per cent as opposed to 40 per cent in 1994. "This accounts for a reduction of almost one third in the tax rates for the companies concerned - not bad for a socialist.

"My contract runs out on June 6th, and it's up for renegotiation," he quipped merrily. "If this were a company there would be no problem, I'd even suggest I deserve a bonus, but a country is not a company."

Shamelessly, he pressed on: "For those of you who have never voted Labour in your life - try it, it won't hurt!"

Desperation or duty? Today will tell.