Charlie McConalogue (Donegal, Fianna Fail) | Oireachtas source

I thank Deputy Kenny. It is a strong allocation but it is really important for both industries. I think both industries deliver significantly in return. They are really important parts of the economy when you look at both of them in totality. Certainly, when you look at our horse racing sector in particular, it is up there at the very top of the world table across different metrics. It is a really important part of our economy in many parts of the country.

We plan to review the overall funding. The consultancy report we are awaiting from Mazars with regard to the IHRB aspect of the funding also includes governance aspects. Depending on the receipt of that, which could inform the wider review, we will then initiate the wider review. It is felt that it is important to receive that report first so it can inform the subsequent review of the funding allocation.

People will have different views on the funding to HRI or Rásaíocht Con Éireann. Taking HRI for example, when you look at our thoroughbred sector and compare it internationally to other countries that are competing with us, you will see that they have similar funds in place and, in most cases, are receiving much more significant government support. Government support underpinning the sector is particularly important with regard to supporting it and making sure it can compete. It is funding that is well spent because of that, and it is really important that we continue with it. We are committed to doing that review but it has not commenced yet. It will commence following on from the receipt of the Mazars report.