Seán Ó Fearghaíl (Kildare South, Fianna Fail)
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Question 367: To ask the Minister for Agriculture, Food and the Marine his views on the prospects for the thoroughbred industry in 2012; and if he will make a statement on the matter. [39518/11]

Simon Coveney (Cork South Central, Fine Gael)
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I am keenly aware of the significance of the horse racing and breeding sector. This an industry in which we are world leaders. It provides significant employment, foreign direct investment and export sales with Irish thoroughbreds exported worldwide.

I want to ensure that this sector's world-class standing and reputation is protected and maintained into the future.

As a clear signal of intent and despite our current very serious financial difficulties the Government last week retained the annual allocation to the Horse and Greyhound Fund.

The Deputy will be aware that, yesterday, I announced I will, shortly, be commissioning an external review of the structures and legislation governing the industry. The 1994 Irish Horseracing Act and the 2001 Horse and Greyhound Racing Act achieved structural reform but I believe the reform now needs to be completed to ensure that governance and administrative procedures are modernised and fully effective in supporting a world class industry into the future.

In taking this action I am acutely aware of the huge effort and commitment which has been given by so many in bringing the industry to where it is today. But now we need to build on this foundation and provide the framework that will provide further progress.

In order to allow the completion of this review I asked the current Chairman of Horse Racing Ireland Denis Brosnan to continue in his role until the end of November 2012. I am delighted Mr Brosnan has agreed to do this. His experience and advice will be of considerable value in the year ahead. I believe it is vitally important for the sector that we all work together constructively in the months ahead in order to have an infrastructure in place to grow and develop this great industry while maintaining the pre-eminent position of Ireland on the international stage.