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The Tote

Well, there are commercial confidentialities to consider, as the hon. Gentleman would expect, but I am happy to meet delegations and discuss the details. If he hears me out, I will tell him more. I intend to make an announcement pretty soon about our intentions. However, I must consider the current economic state and what the best return would be. I would be chided by both sides of the House if I did not do that. What does 50 per cent. represent? It represents the net figure—sales less debts and pension arrangements—and we want to give it back to racing. I was struck by the comments of my right hon. Friend the Member for Sheffield, Central about his idea for the trust. As hon. Members said, there needs to be certainty and determination for the Tote. I pay tribute to the staff who work for the Tote, and to the leadership of the Tote, for what they have been doing under trying and difficult conditions. Since I have had my present ministerial position, I have tried to expedite matters in difficult circumstances. Our first intention was to sell to racing, but we were not able to do that, although we tried all the routes available to us. I certainly do not want to hang about with decision making now. It is important that we move forward, but with the caveat that we must consider the market conditions. The sport is showing signs of modernisation. The British Horseracing Authority, the Racecourse Association and the Racehorse Owners Association are coming to terms with the future of the industry and are prepared to consider different models for the Tote and the levy. My right hon. Friend is right that the two are brought together by issues that the industry has to face. The hon. Member for Tewkesbury (Mr. Robertson) talked about warring factions. I congratulate those concerned on the dinner that was held the other night and the £50,000 that was raised for the Injured Jockeys Fund. There are complex issues involved regarding differing industry aspirations. One problem with my right hon. Friend's suggestion is that it will take an inordinate amount of time to get people around the table and to get things to where he wants them to be. We still have no guarantee that what he suggests would meet state aid rules and would take us much further forward. I am prepared to talk to him and work with him on that solution, but we must hear what the industry has to say. If the industry supports his proposals, we will go through that. It is important to get some certainty. I need to move as quickly as possible with the information that I have received. I want to make sure that we protect the interests of the Tote, because it and the race courses have the opportunity to take the industry forward. There is also an international aspect to the future of the Tote. We do not want to delay matters. We simply want to make sure that this long-standing issue, about which Members on both sides are concerned, is taken forward in the right way for the taxpayer and for racing. We want to ensure that it can be successful. I hope to take decisions pretty quickly, and I shall listen to what my right hon. Friend has to say. I will put the issue of jobs in the north-west to the fore, as I have been asked to do, and I shall do so as quickly as possible. My right hon. Friend asked about perpetuity, which is an interesting concept when one considers issues such as on-course betting—