Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

That's fine. It's all the market's fault, in your view, in that area. But can I put it to you, and I mentioned this here, a review of the 400 top earners in Ireland during 2002 and 2001 ... and they benefitted ... the review shows that the way that they were able to reduce their effective tax rate was through these schemes. These schemes that allowed you to have the schemes such as the Shannon Basin property-based capital allowance incentives. For example, there were six individuals of the top 400 earners that paid no tax in 2002, which was an increase from 2001. There was 37 of the 400 that paid between 0% and 5% effective tax rate. That was an increase from 25 the year before. Do you believe or can you agree that because of some of these schemes and because of how individuals were able to reduce their tax rates, houses were being built to effectively reduce your tax rate, not with the intention that somebody will live in it? If it worked out that you could you flip them in a couple of years' time, you would benefit on the double. But these individuals were able to reduce their tax rate, in some cases, to a level of zero as a result of the policies that you introduced.