  An effective theory is proposed, combining the standard gauge group
$SU(3)_{C}\otimes SU(2)_{L}\otimes U(1)_{Y}$ with a horizontal discrete
symmetry. By assigning appropriate charges under this discrete symmetry to the
various fermion fields and to (at least) two Higgs doublets, the broad spread
of the fermion mass and mixing angle spectrum can be explained as a result of
suppressed, non-renormalisable terms. A particular model is constructed which
achieves the above while simultaneously suppressing neutral Higgs-induced
flavour-changing processes.
