Liam Twomey (Wexford, Fine Gael) | Oireachtas source

This sounds unusual. It does not affect anyone who owns a house. It affects developers only. Does it affect a business involved in land purchase? For example, many SMEs became involved in buying land or property. Does it affect them if they bought land and the banks made a deal with them? This applies to developers also, where banks have made deals with developers not in a position to pay back their loans. Is the Minister saying that if the banks write down the value of loans for developers, half of what is written down becomes a tax liability for the developer?