Mr. John Hogan:

The considerations of the Department are informed by the projections given to it by the Revenue Commissioners and the views of the economics team within the Department on how the commercial property market is unfolding. We are informed by the inputs from the sector, including its indications of its development over the next number of years. On the basis of what has been provided to us by Revenue we believe that it is sustainable into 2018 and beyond. How far beyond remains a matter of conjecture at this stage and we will be keeping a very close eye on this, particularly mindful of continued reflections as to where the market is going and the risks that may be and have been identified by ourselves in terms of the implications of this for the revenue yield and the overall property market.