Mr. Patrick Davitt:

Tax incentives are the big things because by the time a landlord pays all his or her charges and then pays 52% of what is left, which is the net profit he or she has at the end of the day, there is very little left. If we look at the scenario I put in the statement where a landlord buys a property for €345,000, it is a small amount of money in the marketplace at the moment if one wants to buy somewhere at the level to rent. Section 23 is very important. We could take out the tax element and instead of landlords paying 48% or 52%, it could be brought down to 30%. We thought that was going to happen a couple of years ago but it did not.