Willie Penrose (Longford-Westmeath, Labour) | Oireachtas source

I welcome Mr. Kavanagh, his colleagues from the executive and the other board members as well.

I do not intend to go back over ground that has been well ploughed. We have made our points in respect of the situation that occurred. I am looking forward to the development of an industry that is providing more than €1 billion annually. I look forward to the industry continuing to make an important contribution to the rural economy. It is an important source of supplemental income to many dry stock farmers in the area.

Deputy Daly and myself were delighted when we swept two of the major prizes in Britain some months ago, thanks to those wearing the Westmeath colours. Don Cossack and Rule the World are owned by Michael O'Leary. The jockeys were wearing our county colours and we were delighted with that. Annie Power won the champion hurdle and Harzand won the derby. Minding won the oaks, the other big race. We won the five big races there. That was a major success.

On-course betting is showing a significant decline. It could be terminal unless something is done soon. Unless we do something, we are going to lose something that is important. I realise Horse Racing Ireland reduced the levy to 0.25%. This is a welcome move. Normally, I argue with HRI and I have spent time at this committee arguing with Mr. Kavanagh over the years. However, I have to be man enough to admit that some of the changes are those we would have argued for. The HRI board is now implementing them. We welcome them. It would be churlish not to welcome them given what is happening.

Racing attendances are up. We know that in the second half of last year attendances began to climb again. The extra economic activity brought people back. Some innovation and new ideas to attract the public were brought to bear. I compliment Senator Daly and his committee. They are continually re-inventing the wheel in Kilbeggan to bring people in and to try to get sponsorship. It is not easy for regional tracks or those in the country to get sponsorship. That is something we should recognise as well. Sponsorship for some of the big tracks is easy to attract. It is not so easy when they are situated down the country.

One major move by HRI was the move to increase prize money by approximately €4 million. It is a question of how it is allocated and spread. That will be crucial. We have to acknowledge that the level of prize money available to races in this country is up to two or three times what is available in England. That is important. There is an increasing focus on lower-handicap races. This suits small trainers, syndicate owners and those who own two or three horses with a €10,000 minimum value. This is a major step forward. A reduction in the cost of entry to those races at the lower end in terms of the handicap has been tackled at last and I welcome the change.

We need to make it attractive to own a horse. We have some high fliers in the country. They own horses and that is grand. They are wealthy. However, others are down at the bottom. Those in syndicates and partnerships are important to the horse racing industry. HRI should continue to work in this area and try to make it attractive to own a horse.

All is not sweetness and light. It is important to ensure that everyone in the industry gets a fair crack of the whip. I am referring to wages for those who work as stock handlers and valets as well as others working in this area. It is important that they are properly looked after and remunerated. Often, they are the spokes of the industry wheel. They work early in the morning and late at night. There are long periods of travel for them and so on. It is important that they are paid appropriately. The last thing we want is any degree of exploitation of that area.

Reference was made to media rights. I am delighted that they are out for the next six or seven years. What is the relevant period?