Mr. Robert Watt:

A global revaluation has taken place. On this occasion the rateable value has come down, so there is a loss of income of €22 million, as the Chairman noted. It would be worth exploring what would have happened if the revaluation had gone the other way and had increased the receipts to local government. Would local government then have sent that money back and reduced the allocation from the centre? I am just posing this as a question, because it can go both ways. We do these revaluations and it can go the other way. We have had revaluations in the past after which the income was the same. I am interested in whether I would be asked this question if it went the other way. There is a shortfall, so the options are for local authorities to reduce their services, increase their property tax or rates, or come to the Government looking for money. They are the three options, so I think I know which option they are going to go for.