In 1993 I announced detailed proposals for a major restructuring of the organisation of horseracing involving the establishment of a new horseracing authority. The new authority would assume overall responsibility for the administration and development of all aspects of the horseracing industry with the sole exception of the operation of the rules of racing and the provision of integrity services for horseraces. Both of these functions would continue to be the responsibility of the governing bodies. A draft of the legislation necessary to put the new frame-work in place will be published and circulated to Deputies in the current Dáil session.
The National Stud is in the process of implementing a development plan involving a restructuring of its operations. The object of the plan is to bring the stud back to profitability. The plan calls for an increase in the State's equity in the stud. To this end a sum of £1.5 million is provided for in the 1994 book of estimates.
In 1992 I appointed an interim board for the non-thoroughbred sector with a view to the establishment of a structure to provide for its development. Last year the interim board recommended the establishment of a horse board cooperative. The co-op has been launched and is now in the process of recruiting members. The Board has submitted a plan for the future development of the non-thoroughbred horse industry including in particular a strategy for the breeding, production and marketing of sport horses. I have already accepted this plan and have agreed a package of measures including financial assistance for the co-op to facilitate the implementation of the plan. The package covers the period up to 1998.