Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

In the late 1990s, your predecessor, Minister McCreevy, reduced capital gains tax famously from 40% to 20% and it remained at 20% until late 2008. And when you look back now in view of the amount of land speculation that was going on in 2004, 2005, 2006 and 2007, the investment properties, for example, the way in which all of that was feeding into house price growth, do you think that that's a tool that could have been used putting capital gains tax, perhaps, back up as a measure to cool down the market in some sense in respect of land and speculative housing investment?