Mr. Noel Meade:

I am accompanied today by my chief executive, Mr. Michael Grassick, who is on my left and by my colleague, Mr. Dermot Weld. I thank the joint committee for its invitation to give our views today and will hand over to Mr. Weld, who is a member of our committee, as well as being one of our most successful trainers, having trained winners in all parts of the world, including two Melbourne Cups. He will make a short submission after which we will be delighted to answer any questions members might have.