§ The Prime Minister
I am pleased to say that the three members of the Pools Promoters Association have now confirmed that they will set up the Foundation for Sport and the Arts. I understand that the pools promoters are now working hard to finalise the trust deed under which the foundation will operate, and will soon be appointing the first trustees. The way is now clear for the Government to make the reduction in pool betting duty announced by my right hon. Friend the Chancellor of the Exchequer in his Budget speech and new clauses to the Finance Bill have been tabled.