Mr. Jim McCabe:

Like Senator Barrett, our association has concerns about the viability of minimum pricing; therefore, we did not include the issue in our pre-budget submission. We are watching this space very closely. We simply said a ban on below-cost selling would automatically give the Exchequer €21 million such that the multiples would not be able to claim back on what they were selling below cost. An increase in excise will result in less money to the Exchequer because we are into diminishing returns. These are the parameters of what we were saying.