Cabinet Secretary, you are an open-minded person, and it's interesting that your tone today is different to before the devolution of tax. You did say previously—you asked a rhetorical question and you answered it previously:

'Do I think that the marginal additional sum in LTT will be the determining factor in business deals...? No, I don't.'

I gather from your answer today that whilst you still would say that is your personal opinion, you don't shut the door on the fact that it might actually be causing problems for some businesses. Before you come back, if I can just pick out some projects, such as Central Square in Cardiff, for instance, where the marginal 1 per cent rise in rates would mean investors paying around 20 per cent more on their property than with stamp duty, and at least 32 per cent more than land and buildings transactions tax. So, I asked you previously at what point you would act on that evidence. Are you willing to accept that already at this point there are cases, such as in projects such as that, where this not only could make a difference but will make a difference? It might be marginal, but in economic terms it's marginal differences that often make the difference in profit or loss.