Ireland's major national hunt meeting, the Punchestown Festival, has been cancelled.

The decision to pull the plug on the 24-27 April meeting, which had a prize fund of nearly �1m, was taken after the Punchestown track failed a course inspection on Wednesday.

The news is a major blow for Irish racing and will counter much of the optimism which greeted the Government's decision on Tuesday to allow a resumption of racing on Easter Monday.

A Turf Club inspection team, including clerk of the course Joe Collins and inspector of courses Bill McLernon, could not give the track the go-ahead to race on its scheduled festival dates.

The Punchestown track has been plagued by controversy since complications developed over a drainage system installed last year.

A fixture had to be abandoned last October due to holes in the ground, and a number of fixtures before Christmas took place on a makeshift track on the inner of the main racecourse.

It is understood that that inner racecourse also failed to pass Wednesday's inspection.