Mr. Tom Considine:

Well, it's the definition of cyclical taxes. If ... if you were to narrow the definition to include taxes arising from property then I would agree that that's the case. But what I would say to you is that by the time you get to 2003 or 2004, the scope for actually moving off that situation that you found yourself in is quite limited. And once you get ... once you get into a situation where the property market is overheating, then almost anything you do to cut taxes will have the opposite effect of what you ... what you would like. In other words, it would stimulate the market as opposed to ... to dampen it down.