Marcella Corcoran Kennedy (Offaly, Fine Gael) | Oireachtas source

I know for a fact that the Department for Finance is not keen on hypothecation. I wish the Minister for Agriculture, Food and the Marine well with trying to get the Department of Finance to ring-fence anything for the sector. It would be marvellous if he succeeds.

In terms of a betting tax on online betting, at the time there was talk that a great amount of funds would be generated. There is potential for an extra €20 million per year to be generated, which is not to be sniffed at, and the amount will only increase.

Horse racing is hugely important to the economy. I was lucky enough to watch a marvellous film that I am sure will be of interest to this committee. The film "Against the Odds - Racing with Gordon Lord Byron" was made by a young man, Nicholas Ryan-Purcell from Cloughjordan, County Tipperary. The film tells a fantastic story about the owners of the horse, the Cahalan family, who literally started off racing the horse at point-to-point races. Sadly, the horse broke its pelvis. The horse was due to be put down but the family decided to work on him with his trainer, Tom Hogan. Thankfully, the horse has gone from strength to strength and now is internationally successful. I recommend everybody should watch the film as it gives an insight into how important the sector is to rural communities. It is amazing to realise how many people work in the sector. The film also showcases the joy of winning and the passion that goes into preparing horses for racing. The sector is incredibly important and we need to continue investing in the sector. I support the Minister in anything he wants to do to support the sector as the sector is so crucial to rural Ireland. I hope the Chairman will forgive me for mentioning the film but anyone who watches it will gain a great insight into the sector.

I shall return to discussing hypothecation. Will the Minister pursue hypothecation? It would be marvellous if he could ring-fence funding.