Michael Lowry (Tipperary, Independent) | Oireachtas source

Support from the State to the horse and greyhound industries is one of the most important financial outlays in the budget. The money allocated to both industries is an investment. Budget 2024 allocated €95 million to the horse and greyhound fund for the coming year. Horse Racing Ireland is set to receive €76 million of this while the remaining €19 million will be put to good use by Greyhound Racing Ireland. The increased allocation for the year ahead has been welcomed across both organisations, particularly by Greyhound Racing Ireland. This funding will allow it to finalise its plans for the year ahead. The industry has had serious concerns due to falling attendance at the tracks, resulting in a significant drop in revenue. However, with aggressive marketing and promotion, attendances have been improving again. Greyhound Racing Ireland is continually improving its image and its revenue intakes. It needs a continuation of Government funding over the next five years to implement its development projects.

One such development is the extensive upgrade and refurbishment of Kilkenny Greyhound Stadium. This is a very progressive venue with a strong tradition and widespread support from owners, trainers and the public who like to go for a night out at the dogs. The board of Greyhound Racing Ireland is enthusiastic about the implementation of this project. It has sanctioned €1 million of funding. A new CEO has been appointed to oversee the development. The local committee is ready to draw down that fund. I understand it is the Minister's intention to release this €1 million in January. May I suggest that he brings it forward as it would make an ideal Christmas present for the local committee?

The horse racing industry remains strong and is thriving across Tipperary and the country. It continues to build on the stellar reputation Ireland holds across the world. Few people outside horse racing circles realise the benefits this sport delivers to the economy. It is estimated that the breeding and horse racing industry across Ireland generates an average of €1.8 billion in gross expenditure annually. This funds more than 10,000 Irish jobs that are directly supported by this industry. There are 1,000 more jobs allied to horse racing which benefits from the services they provide. Top-level equine vets, farriers, horse transport drivers, stable hands and grooms are among those employed by the industry. In addition, hundreds work at race meetings providing track maintenance, catering, betting facilities, and a myriad of other tasks that must be carried out to ensure everything, quite literally, runs smoothly.

Ireland's racing industry is one of our biggest and most consistent attractions for tourists. Our reputation as a top racing destination sees racing lovers flock to meetings, resulting in a massive boost in revenue for the transport, hospitality and retail industries.

Ireland has a very impressive global horse breeding reputation. Ireland boasts everything that top breeders need, from our temperate climate to our calcium-rich soil, so demand to have horses bred here continues to grow. Many of the most knowledgeable and experienced experts in horse reproduction travel to Ireland to breed their horses. All combined, Ireland's equine industry provides an annual revenue input in excess of €900 million to the Irish economy. The level of investment in horse racing from the Government pales in comparison with the money it returns year on year. Moves to reduce financial support to horse and greyhound racing would be unwise and counterproductive to our economy. Thankfully, successive governments appreciate this and have consistently given financial backing to one of our country's greatest assets. I therefore welcome the allocation for the year ahead.

See this speech in context