21 Sep 2022, 16.00
The Committee of Public Accounts (PAC) will meet tomorrow, Thursday, 22 September, to examine the 2020 Financial Statements of Horse Racing Ireland.
The meeting at 9.30am in Committee Room 3 of Leinster House will be joined by the Comptroller and Auditor General, Mr Seamus McCarthy, and representatives of Horse Racing Ireland (HRI) and the Irish Horseracing Regulatory Board (IHRB), and officials from the Department of Agriculture, Food and the Marine.
During the afternoon session, beginning at 1.30pm, the Committee will consider correspondence and other business of the Committee.
Committee Cathaoirleach Deputy Brian Stanley said: “Horse Racing Ireland (HRI) is the governing body of thoroughbred horse racing in Ireland and has responsibility for the governance, development, and promotion of the industry under the Horse and Greyhound Racing Act 2001. The Board of HRI is accountable to the Minister for Agriculture, Food, and the Marine. Under the 2001 Act, HRI receives Exchequer funding through the Horse and Greyhound Racing Fund. In 2020, this funding amounted to €67 million.
“Matters of interest to the Committee include the redevelopment of the Curragh Racecourse and the cumulative loss of €6.4 million on HRI’s initial equity investment of €23 million in the project, the loss incurred on the disposal of land at Tipperary Racecourse, the sale of lands and redevelopment of Leopardstown Racecourse, and HRI’s contribution to prize money for races which in 2020 amounted to €35 million. Other areas for discussion include expenditure related to racing integrity, racecourse services and equine welfare issues. The Committee looks forward to discussing these and related matters with the representatives of HRI, the IHRB and the Department.”
The meeting in Committee Room 3 can be viewed live on Oireachtas TV.
PAC is a standing committee of Dáil Éireann which focuses on ensuring public services are run efficiently and achieve value for money. Further information on the role and remit of the Committee can be found here.
Committee proceedings can also be viewed on the Houses of the Oireachtas Smartphone App, available for Apple and Android devices.