Catherine Murphy (Kildare North, Social Democrats)
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I have one other point. We are constantly told hypothecation, which I think is the word, though I would just say ring-fenced, is not generally how Departments do things. However, this is a clear example of how a Department did that. The Minister for Finance at the time this fund was set up was Charlie McCreevy, who was a strong advocate of horse racing. The next time I am told something cannot be ring-fenced I will answer that it can be and cite this as an example of it.