Mr. Tom McDonnell:

I should perhaps have been more exact in what I said. What we specifically called for is an exemption for social housing and group residential facilities used exclusively for certain specific purposes such as the provision of housing facilities for the homeless. Perhaps I did not make that clear in my earlier remarks. We are not calling for an exemption in respect of all social housing. We are speaking specifically about residential facilities which are used for designated purposes. We are conscious of equity issues. TASC is a think-tank, whose raison d'être is economic equality in the context of efficiency and so on. Therefore, we believe it should be the market value of the wealth asset that is taxed. We should, because these are immovable assets as opposed to certain other types of assets which because of capital controls are easy to move off-shore, focus on these assets, at least for now. I agree with Deputy Murphy about the universality principle. There should be no waivers rather deferrals only should be permitted, which eventually come due.