Dáil Éireann Debate, Thursday - 24 September 2009
13 Deputy Willie Penrose asked the Minister for Arts, Sport and Tourism the expected funding level of the horse and greyhound racing fund; the projected direct Exchequer contribution in this area; and if he will make a statement on the matter. [32332/09]
View answerSince 2001, Government support for the horse and greyhound racing industries has been provided under the Horse and Greyhound Racing Fund, which was established under the Horse and Greyhound Racing Act, 2001.
In 2004, the Government put in place regulations to increase the limit of the Horse and Greyhound Racing Fund from €254 million to €550 million to continue the fund for a further four years to 2008. By the end of 2008 a total of €545.8 million was paid out of the fund. The remaining balance in the fund at the start of 2009 was €4.2 million. €68.1 million has been allocated to the fund for 2009 and a regulation which increased the level of the fund by €63.907 million has been made.
Funding of both Horse Racing Ireland and Bord na gCon supports two very important productive industries and helps to sustain the important role of horse and greyhound breeding and training enterprises in the development of the rural economy. These industries, together, account for an estimated 27,500 direct jobs, generate very substantial economic activity and make a vital contribution to the rural economy including farm incomes.
The funding given to the greyhound racing sector helps in sustaining a tradition that has existed for hundreds of years and in underpinning the economic activity in what are in many instances less affluent regions of the country. The funding has also contributed significantly to the almost €90 million that has been invested in the improved facilities now available at greyhound tracks around Ireland.
The funding has allowed Horse Racing Ireland to undertake a capital investment programme that has underpinned growth in the sector. The funding has allowed Ireland to develop into a world centre of excellence for horse racing. A review of the fund has been completed and is currently being considered in the context of deciding on the future funding options for these industries. The level of funding to the horse and greyhound racing industries in 2010 will be dependent on overall budgetary conditions taking into account the significant contributions that these industries make to the economy in general and the rural economy in particular.
