Mr. Tom McDonnell:

It would have to be for specific purposes such as housing the homeless and similar very limited purposes. I reiterate that if an individual is on a low income or experiencing difficulty in making repayments, a deferral would kick in until transfer of the property. Essentially, that would deal with short-term issues about creating additional difficulties for people because it is only people who do not find themselves in large difficulties who would be liable to this tax in the short term. Given the massive size of the deficit, somebody has to pay and it is our position that this is the best and fairest way to do it. It would be done in a way that effectively protects the most vulnerable in society and those who do not have the ability to pay. It would also be efficient and sustainable over the long term and, economically, that makes sense as well.