Mr. Gabriel Makhlouf:

It depends. I will be very frank. My general philosophy on tax reliefs is that I do not like them. My general philosophy is that it is much better to have a tax system that is broadly based because that minimises economic distortions. Where reliefs are intended to provide support to individuals, households or businesses, in my experience they are much better if they are targeted and are either done through grants or the social welfare system. That is my general philosophy. I am making a micro point as opposed to a macro point. As I said in my statement and in my budget letter, increasing the demand stimulus we put into the economy to essentially counteract what we are trying to do is not helpful.