Mr. Rónán Hession:

The Deputy referred to my earlier comments to Deputy Broughan. When I was talking about reliefs I was not talking about capital allowances.

The capital allowances we are talking about are the tax version of depreciation. Any asset one has will be depreciated in one's accounts according to accounting standards. The way tax calculations are done means that, rather than recognising this as a depreciation, it is provided as a capital allowance. Therefore, if one did not have capital allowances, one would effectively be treating the asset at an inflated value above and beyond what is in the accounts. To explain that point-----