Hon MICHAEL WOODHOUSE: So there is a question to this and that is: did the Government get advice on whether or not inflation should be taken account of when it considers the marginal tax to pay on the sale of a property within 10 years? Forgetting the interest problems—and we'll deal with that later in the year—the jurisdictions around the world deal with this by having a lower capital gains rate. Fifteen percent is usually used as a sort of a catch-all arbitrary rate that says that, well, there's a time value of money. The longer one keeps the asset, inflation will erode the capital gain. There's also expenses that can be incurred of a capital nature that aren't included in the wash-up, so let's just call it 15 percent rather than the top marginal rate, because this is punitive. If we succeed in getting house price inflation under control, this will be unnecessary, and actually it will work—it will have completely the opposite effect that the Government intends it to if it doesn't allow for the time value of money.