Mr. Aidan O'Hogan:

May I refer also to the windfall tax? Members are looking at it from a slightly different point of view from us. We are not opposed to the windfall tax, but the quantum of it is a disincentive for people to release land. We are anxious to see more land released into the market which can be developed, so that if it is rezoned it will be released. If one is a farmer and one's land has increased in value from €10,000 per acre to €100,000 per acre, one has an incentive or an added value of €90,000. As the tax rate currently stands, one will pay €70,000 of that in tax. That does not make any sense. Any farmer would ask why he would sell the land.