Mr. Joe Keeling:

I will take the first one. In respect of board numbers, I agree that from my own experience, smaller is better and certainly a board of 12 or 13 is as big as one would want. It is always more difficult to manage a bigger number and can be slow progress. While everyone would like representative numbers, I perceive increasing the size to be more difficult. Another element is that when I took office in March 2013, I was promised a new board. Things have been a bit slower because we have not had a new board. We have a lot of board members whose time is up, some of whom wish to move on. It is difficult at present and the sooner we get a new board, the sooner we can get in new enthusiasm and grow, but I certainly would not like to see bigger numbers.

On the development of the Curragh, we have agreed a new shareholding structure to build the Curragh in which HRI has one third, the Turf Club has one third and benefactors have one third. We are getting a company to do that at present and much preparatory work is entailed in getting agreement. There is no point in rushing into it and we probably need to spend approximately €5 million to get to planning permission stage. Thereafter, we cannot do anything else until we have funding, but it is my ambition to have the Curragh built by 2017. I reiterate that without funding, it would be very difficult. We can get the project started and can get it to planning permission stage but thereafter, it would be difficult.

As for the question on betting tax, it is a duty, not a corporation tax, and in my view the customer should pay it. I have been going to races for many years and have been in situations where one paid 20% tax. However, it did not stop people from betting and I believe the customer should pay the betting tax. I believe they are the three items to which I wished to respond.