Mr. Tom McDonnell:

We are very clear. There should be no waivers in respect of negative equity but there should be deferrals based entirely upon people's ability to pay. If a person's ability to pay status changes, the deferral should be removed and if his or her ability to pay declines, then a deferral can kick in and there can be different levels of deferrals. It should be a universal system across the board for everyone - there should be horizontal equity. No groups, because of negative equity, should be able to exempt themselves from a property tax. I reiterate that all taxes have negative impacts on employment, growth, incomes and also on equity but property taxes or taxes on a moveable property specifically are the least damaging across the board in the case of all of these issues.