When this Clause was discussed in the Committee stage I voted against it. I had then, and still have, very grave objections to the proposals contained in it, although I have not a complete objection to any taxation on betting, I do not propose to say now what I might have said on the former occasion, because one of my great objections to the proposal originally was that the 5 per cent. which it was proposed to put upon betting, taking into consideration the conditions in this country as compared with any other civilised country where horse racing is conducted on any large scale, was too high a tax to impose upon those who indulge in betting here. I only rise now to say as one who in years gone by had a good deal to do with the conduct of horse racing in this country, that the whole of the horse racing community will cordially and heartily appreciate the way in which the Chancellor of the Exchequer has met them. Speaking for myself and on behalf of the horse racing community, I say that we are all very grateful to him for the way he has treated us.