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

On the amount of money at stake, it is substantial for a substantial industry which is estimated to be worth €1 billion and has approximately 14,000 employees. There is an accountability structure in place, with its audited accounts being subject to verification by the Comptroller and Auditor General. As I said to Deputy Martin Kenny, it is not a case of handing over funds without there being any accountability on the part of the board. In the context of the debate on the appointment of the CEO, at the committee the chairman of the board did acknowledge that the process was not as it should have been. That is the view of my Department and it is also mine. The board expressed the view that the outcome, albeit achieved in a rather circuitous manner, was the one it had desired and wished for.

I also made the point to Deputy Martin Kenny that the industry was very mobile. If one looks at the reports on the horse racing industry, it is to be found in every county in the country. It is important that we support it. It is not simply about handing over money that will find its way into the pockets of the big players. I acknowledge - this point was also raised by Deputy Martin Kenny - that there are issues around the viability of the industry at lower levels for those involved in point to point fixtures and breeding horses, etc. Many of them live for the dream, but to make it a reality, perhaps more resources must be provided at that level. The board could reflect on this issue. Collectively, we could make a contribution to its deliberations on it by expressing our concerns about that side of the industry. It is a great industry that provides great employment. It is a global leader owing to the people, the human capital, involved in it. The board has taken the lead in that respect, but it did not have its finest hour in dealing with this issue.

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