§ Mr. LAMBERT
asked the Minister of Agriculture what were the capital costs in buildings and other expenses incurred in the taking over of the national racing stud; whether such sums were paid out of borrowed money; what have been the financial results of Government racing during the past year and whether it is intended to continue this pastime at the taxpayers' expense?
§ Mr. BUXTON
The national stud was established in 1916, primarily on military considerations, as the result of the gift to the Government by Lord Wavertree of his valuable thoroughbred stud, together with all the live and dead stock on his Tully estate in Kildare. The owners' and tenants' interests were purchased for £47,625 by means of a Vote of Parliament. The stud is maintained as a breeding, and not a racing, establishment, and accumulated is an accumulated trading profit up to 31st December, 1922, of £33,550. There is no reason to think that the trading account for last year will not, also, show a profit. It is intended to maintain the national stud, and, it is hoped, to the continued benefit of the taxpayer.