Mr. Brian Kavanagh:

I do not want to sound smart but not enough. Ms Suzanne Eade will give the exact details. Irish Thoroughbred Marketing is a wholly owned subsidiary and is funded partly by Horse Racing Ireland and partly by the breeding industry so a contribution of funding from the foal levy goes into Irish Thoroughbred Marketing. The sales companies pay a percentage of their turnover, the stallion owners pay a fee and Horse Racing Ireland puts €800,000 into Irish Thoroughbred Marketing.