Mr. John Hogan:

I think that the Revenue officials would have taken the committee through their calculations in some detail when they appeared here before Christmas. Certainly, the advice to the committee, as was the advice to ourselves, is exactly along those lines. Stripping out once-off transactions, there would be quite a stable base going forward over the next number of years. Even the commentary from the industry over the Christmas period and into the early part of the new year has been quite upbeat in terms of the plans for further development in the sector over the next number of years. Having regard to all of those factors, our expectation is that Revenue's approach to this has been based on solid analysis and will help us fulfil our target for stamp duty for this year.