Is the Minister aware that a number of stud farms in my constituency, including two owned by Her Majesty the Queen, and also stud farms in general make a tremendous contribution to the rural economy? That is valuable at a time when farming is in difficulties. Is he also aware that bloodstock is subject to a far higher rate of VAT than in this country in France or in Ireland? That is an extremely serious problem which is leading to a number of stud owners moving their horses abroad. Will he tell the House what he is doing about that and what discussions he is having with the Treasury?