Mr. Derek Moran:

Yes, I mean, I think the response ... I mean, it's not a coincidence, I don't think, that around the same time there was eventually traction on the phasing out of the fiscal incentives for property. You know, no matter whether you think it was done quickly or not, you know, around budget '04 or ... it was announced in December '04 as part of budget '05 that these were to be reviewed and then, the following year, to be phased out. So, in terms of a policy response, albeit in my view late, I think that's the traction that those sorts of warnings started to get.