Mr. Robert Watt:

When there is a merging of rates, there is a ten year phasing-in period as set out in the legislation, and no such provision is available for phasing in the consequences of a revaluation. In the UK, they have a phasing in as a result of revaluation, with the period extending to two or three years. On the face of it, the Deputy is correct. I do not want to get into what could be a policy question but there is a different approach taken when rates must be merged, as will happen in Waterford, where there is ten years to do so, as opposed to a revaluation, as no such provision exists. There are different approaches and whoever constructed the legislation showed great foresight in including the ten year provision. That anticipated a problem that is live in some places.