Mr. John Hogan:

This notion of relative stability has been at the centre of how this tax has been created over the past number of years. The intention has been to create that stability over the short and longer term. There has been stability over the past six years in that the actual level of tax in that period has not moved. It is incumbent on us to review our learnings from the LPT over the past number of years, acknowledging that there is a very high compliance rate with it. It has a very strong contribution to make in terms of the funding of local services. Property tax is internationally recognised in the OECD hierarchy as being very positive in terms of promoting growth in jobs and so on. It is very difficult for me to be drawn at this stage on the outcomes of our deliberations over the next few months.