Mr. John Moloney:

No, because all the different bodies within the industry are represented on HRI. One will have seen where development has been throughout the country. I mentioned Galway. We have a new stand in Limerick. I also mentioned Cork. We have had a big development in Leopardstown. The next big project on the agenda is the redevelopment of the Curragh, which will, we hope, commence in the next year to year and a half. Our Turf Club colleagues will fill members in on that a bit better.

The moneys in the capital development have been distributed very fairly and evenly. Any course that has applied for it has been granted it. We saw a big development at Sligo racecourse. I do not know how many members have been to Ballinrobe but I think it is a beautiful racecourse and it is a real best-in-class among our country's racecourses and those in the UK, given the size. The moneys have been distributed very fairly and I could not see how HRI tracks would been favoured in any way.

We may not have said that racecourses contribute more than €5 million in sponsorship to the whole prize fund. Obviously, the racecourses have to provide and service sponsorship of races. Last weekend there were two very successful days - one in Leopardstown and one in the Curragh - with huge sponsorship. It was a wonderful spectacle for racing internationally, and people from all over the globe attended. That is very important. We have the best horses in the world and we can run the best race meetings now. It is very important that we have such successful meetings.

I would like to congratulate all those involved in the three days of racing, including the executives in Leopardstown and the Curragh. They did us proud and we should all be very pleased with what has happened for Irish racing. No doubt Listowel will see huge crowds tomorrow for the Kerry National and ladies' day on Friday, which will be a great finish to our racing year.