Ms Lorraine O'Donoghue:

I have a lot of sympathy for the comments made by Deputy Casey. The formula is complex and hard to explain and understand. I might get ready to bat it to a colleague. The aim of the provision is to separate the standard national revaluation, the global revaluation, and the ongoing impact of Irish Water. We have crunched the numbers in the Department. It is safe to say we made a similar assumption to the Deputy that a much simpler process was possible and to add it back in at the end, but we could not get the numbers to work. We made an actuarial assessment, but it was not working out. We reviewed the formula in consultation with the Valuation Office. The draft members have related to the Committee Stage amendment is not straightforward, but it is what is being proposed. We are as confident as we can be that it is what will work. Ms O'Gorman might address more technical matters.