I think in terms of the first one, the impact on construction activities and so on, one thing we had looked at was the impact of different measures such as the increase in the amount of cash you have put down on a house. We look at these different measures and we look at what resale activity would do around the implementation period, whether it had gone down and by how much, to sort of try to get an average. It's difficult to test very specifically for those measures, just because we don't have a whole lot of data. Then we do it case by case, and take a case-study approach looking at resale activity after the implementation of certain measures or residential investment and so on, so we can get at least a sense of magnitude. Our estimate is in part informed by those types of analyses.
On January 30th, 2017. See this statement in context.