To just go a bit further on that, if it's not marginal, though, but it's material cost, the increase in the inclusion of the capital gains rate can cost a developer millions, if not tens of millions of dollars, and often these projects are marginal. They might be a million or two either way, whether you go ahead or not. Surely you agree with me, Mr. Routledge, that now is not the time to put in additional barriers for builders to build houses when, as the president, I believe, of the home builders said there's “not a chance” we're going to hit our target.
On June 11th, 2024. See this statement in context.