The International Financial Services Centre (IFSC) is a major European financial centre located in North Wall and parts of East Wall, Dublin, Ireland. As of 2014 the centre ostensibly employs 35,500 people in over 500 companies, generating some 2.1 billion euro. It was the brainchild of financier Dermot Desmond, whose NCB financed a study by Price Waterhouse on the feasibilities of an 'IFSC'. Desmond then approached Fianna Fáil leader Charles Haughey, then in opposition, who made it the centrepiece of his economic manifesto when he came back into power. The Finance Act, 1987 (Section 30) allowed for the designation of an area exempt from normal taxation laws.