Mr. Jeremy Godfrey:

I think there is a range of taxes, including VAT and excise duty. VAT cuts get passed on more or less immediately compared to excise duty cuts. There are other considerations which are way beyond the scope of the Competition and Consumer Protection Commission's mandate. If the question really is whether a policy lever is needed that will cause an immediate reduction in pump prices, then the Government can decide what is the best way of doing that. Of course, from our point of view we would always encourage policy initiatives that do not damage the competitive process. There would be a range of choices.