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The Tote

I declare my interest in the Tote, Mr. Hood. I am not connected with its finances, but I have an interest in racing and the sport of racing. The Minister made the valid point fact that outstanding matters may still affect the levy. Perhaps my right hon. Friend the Member for Sheffield, Central (Mr. Caborn) should reflect on the present state of the financial markets. If we include other outstanding elements such as the ongoing legal battle about Turf TV, it might be better for the sale of the Tote to be set aside for a given period to allow those matters to settle down and the markets to recover. If 50 per cent. of the sale price is to go to racing, the amount might be higher than could be extracted at present.