Michael Creed (Cork North West, Fine Gael) | Oireachtas source

It is entirely wide of the mark to say that the board of HSI gets a sum of money from the Exchequer and that there is no further accountability. The board publishes an audited set of accounts annually and clearly shows what it does with the money. I invite the Deputy to look at HSI's capital infrastructure programme to improve racecourses in Tralee, Killarney, Mallow and the new flagship redevelopment at the Curragh. There is scarcely a racing venue which has not received funding and that comes from this. This is not a pot of money given to a collective board to spend without a plan. Importantly, it is not a fund that is going to an elite. The backbone of the industry is in rural Ireland in breeding establishments on small farms that have a number of mares. That is the bedrock on which the edifice that has positioned us as global leaders in the equine industry is built. We should remember that this industry is hugely internationally mobile. This industry could up and relocate. There are 14,000 jobs across every corner and rural county in Ireland. As such, it is very wide of the mark to say this is something going to an elite handful of people. That is far from being the case.

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