Mr. Jim Power:

It is important to point out, when we are comparing ourselves in an international context, that Ireland has obvious geographical disadvantages. It costs more to transport horses here whereas, on the European circuit, for example, in Belgium, Holland, Germany and France, it is easy enough to get around and is relatively cheap. That places us at a disadvantage and means we have to run a lot faster to try to catch up or to stay up with the others. As I see it, we are not doing that and we are slipping back.

If we accept there is potential for this industry to make a significantly greater contribution, which from a rural and economic development point of view is very important, the State would be justified in intervening where there is this sort of market failure. Facilities are the most important thing. If we create the correct facilities, we will get the top riders here. I was going to use the analogy of the horse before the cart, but it would probably be inappropriate. If we are running top quality competitions with top facilities, we will get top quality riders and that will feed into the generation of the revenues that will fund the prize money. Developing the facilities and creating top quality competition are very important.

I was asked where the State has intervened in similar areas. I would point to the investment by the IDA in facilities which it provides to multinationals in order to create employment. It is the same sort of structure in that one facilitates businesses that will generate economic activity that will generate employment that will generate tax revenues.