Martin Mansergh (Fianna Fail)

We are trying to raise pleasant visions of home in the mind of the Leas-Chathaoirleach.

The Minister has replied very positively to this recommendation. My understanding is that he is interested in collecting more objective information about how certain reliefs operate. I notice Senator Browne could not resist flogging a live horse regarding stallion fees.I would be surprised if that does not show that abolishing it would cost the Exchequer as opposed to bringing in revenue to the Exchequer. On average, most people do not actually make money from investing in and breeding horses. I know that some do and a few do spectacularly well. We must decide if we want to see our equestrian industry going lock, stock and barrel to Kentucky or Australia. If so, we can take that decision although it is something that has worked very well.

It is true that a few people have become very wealthy as a result but it must be judged, as this recommendation states, on the economic and social benefit it provides. It employs thousands of people, especially in the Minister's constituency of Kildare and my own shadow constituency of South Tipperary. It is over-emphasised in political and media debates and is an easy populist point to make, but it does not make any sense. The late Deputy Joe Bermingham and the late Deputy Michael Ferris of the Labour Party examined the matter very carefully and recommended that it should not be changed. I do not think that regularly brandishing that as a kind of symbol that one is attached to core socialist values, equity, a just society and all the rest washes.