Mr. Ronan Lyons:

My name is Ronan Lyons and I am speaking today on behalf of the Smart Taxes Network. I will be brief because I would like to maximise the time available for questions and discussion. Given that a property tax is on the way, we would argue strongly in favour of a tax that is based on site value rather than on a full tax. The reason for this is that it would be better from both from the point of view of progressiveness and from the perspective of offering an economic incentive. In addition, it will be easier to introduce. I will not say any more than that now.