Ciarán Lynch (Cork South Central, Labour)
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The committee receives submissions from different groups and there would be a conflict in respect of them. As part of its presentation and in the context of the interests of its retail members, I am sure IBEC will state that the smuggling of tobacco is increasingly becoming a problem. If one sets aside the health issues and concentrates on the product, it is evident that there is smuggling and criminality on a massive scale and that, as a result, the Exchequer is losing huge amounts of revenue. Further increases in the price of tobacco are merely going to compound the problem. As Deputy Dara Murphy stated earlier in the context of price elasticity, increasing the price can often lead to unintended consequences. Perhaps our guests might comment on that aspect.

On the introduction of a site valuation property tax, a particular issue arises. This relates to the position of those who own high value houses which are situated on low value land versus people who own low value houses which are situated on high value land. How fair is Smart Taxes Network's proposal in respect of this matter? It could be criticised because it suggests that more money be taken - in the form of a wealth tax - from those who fall into the latter of the two categories to which I refer.