Mr. Tom O'Connell:

Well, I would have, again from my recollection, I know I was sent ... I was sent some of the letters from the Governor to the Minister. I think he tended to be ... the letters tended to be, sort of, conservative for the most part, you know. It may not have gone so far as to build ... recommend building up a cushion, but you must remember the pension reserve fund was there at the time, you know, and certain amounts were being set aside. But it probably wasn't appreciated at the time that the extent to which property-related taxes, in the round, were contributing to the overall tax revenue.