Oireachtas Joint and Select Committees

Tuesday, 23 February 2021

Public Accounts Committee

Horse Racing Ireland: Financial Statements 2019

10:00 am

Photo of Matt CarthyMatt Carthy (Cavan-Monaghan, Sinn Fein) | Oireachtas source

I was getting to that point. In the year we are examining, 2019, Government funding to the organisation was approximately €67 million and the prize money distributed was €66 million. Looking back over the years, I see that in 2012 there was €45 million in Exchequer funding and €45 million in prize money. There is clearly a correlation between the two. Is Mr. Kavanagh satisfied that this method of front-loading prize money is the best and fairest way to distribute Horse Racing Ireland's funds to race owners, trainers and the associated and ancillary personnel he mentioned, such as stable hands and so forth?

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