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Dáil Éireann debate -
Wednesday, 29 Oct 1980

Vol. 323 No. 6

Written Answers . - Bloodstock Industry .

68.

asked the Minister for Finance if he is aware of the serious effects of rising costs on the bloodstock industry and racing industry and that this year there has been a decline in on-course betting with bookmakers and a drop in the attendance at race meetings; if so, if he will remit the stamp duty of 1½ per cent on on-course betting with bookmakers imposed in the 1980 budget; if he will also indicate the result of the review of the on-course betting levy which he announced in his budget speech; and if he will make a statement on the matter.

: I assume that the reference in the Deputy's question to the racing industry is a reference to the horse racing industry. I am not aware that rising costs are affecting the bloodstock or horse racing industries to a greater extent than other industries. In the period 1 January 1980 to 18 October 1980 the betting turnover of on-course bookmakers has totalled £44.7m, an increase of £1.1m on the same period last year. Reliable attendance figures for 1980 are not yet available but the indications are that attendance for the first six months of 1980 was the same as in the same period of 1979. The 1½ per cent stamp duty on on-course betting will, like all other taxes and duties, be reviewed in the context of the 1981 Budget, but I would not be hopeful of being able to abolish it at that stage as suggested by the Deputy. The review of the on-course betting levy referred to in my 1980 Budget Statement has not yet been completed.

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