Éamon Ó Cuív (Galway West, Fianna Fail) | Oireachtas source

The witnesses have highlighted two technical issues which I believe can be taken on board and considered carefully. On the betting tax issue, the reason this tax is low is that it was confined to bookmakers and there was migration to online betting. It is my hope that this Bill will be enacted and become law. We can then set a new betting tax. People in the horse racing industry have said to me that if a 3% tax on betting was introduced not only would this hugely increase funding to horse racing, but it would allow funding for other equine activities. While this issue does not come within the remit of the legislation we are discussing today, it must be part of the suite of actions to develop the horse racing industry. In my view, the only way of developing this industry is to ensure there is in place a source of revenue that is tax based, although not from general taxation. It would be hard to persuade the public to put money into what some people would see as a luxury activity. The introduction of a higher betting tax is the solution to many of the problems in this area.

As rightly pointed out, this Bill deals with governance issues. It is important there is good governance in place when there is a great deal of money going through an industry. I have noted the two issues raised. The witnesses can take it they will be given careful consideration by Fianna Fáil in the context of it proposing any recommendations to this Bill.