Ms Brenda McVeigh:

We indicated to the committee the last time that it is impossible to cost it when there are so many unknowns in it. At the moment, they have not even determined the level of tax to be applied. There are indications of 1% and 0.1% on different types of products but there is no decision on the tax itself. There is no decision even on the products and the institutions that are in and out. We see the advantage as being a very plain one. Where there are so many unknowns, it would be foolish, especially when as I said the markets are stabilising and we are re-entering the markets, to do anything that would impact on those markets. Our view is that the 11 should possibly not even go ahead with it as it is. Certainly, at the moment, they are not and it is not being progressed.