Martin Cullen (Waterford, Fianna Fail)

The fund has been reduced this year in the Estimates process. As we went through this I had discussions on the matter. The fund is €69 million, reduced from over €80 million. There was acceptance in the industry that it had to take the hit. The industry, Deputies Mitchell and Barrett and I were ad idem that resourcing must come from within the industry. The taxation must be self-financing. I have provided for €69 million but betting tax will not yield that amount. It remains to be seen how much it will yield. I had to be certain in respect of the industry's investment profile to provide certainty in respect of what the year would hold. The review is under way and Deputy Barrett is involved in part of that.

There has been a great expansion in betting but the problem is that the vast majority of this is Internet betting and telephone betting and this money is going offshore. Even 0.5% of the figure would make an incredible difference to the industry.

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