Charlie McConalogue (Donegal, Fianna Fail)
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An important pillar of Government policy is to ensure that the horse and greyhound racing industries achieve their maximum potential, and in so doing, contribute to economic and social development over a wide geographic distribution.

The horse and greyhound racing industries make a valuable contribution to our economy. It is estimated that the thoroughbred industry has an annual economic impact of €1.84 billion with direct and indirect employment of 29,000 people, and the greyhound sector provides an estimated 10,000 people with economic benefit. The thoroughbred industry, in particular, brings a high level of international investment into Ireland.

Government funding, in addition to supporting these key industries, presents an excellent opportunity to yield a high return for its investment, leading to a flow of income right through the economy, thereby providing widespread benefits for our society.

The Irish equine breeding and racing industry is extremely competitive at a global level. We are the third biggest producer of thoroughbred foals in the world and estimates place Ireland only behind the United States as the biggest seller of bloodstock by public auction globally. Successive Governments have acknowledged the importance of these industries and have supported them through legislation and policy initiatives.

The support provided by public funds through investment in these industries has enabled Ireland to develop a world class reputation for excellence in horseracing, greyhound racing and breeding.

The horse and greyhound racing industries receive financial support from the State through the Horse and Greyhound Racing Fund, under Section 12 of the Horse and Greyhound Racing Act, 2001. My Department makes payments from the Fund to Horse Racing Ireland (HRI) and to Rásaíocht Con Éireann (RCÉ). In the period 2001 to 2021 a total of some €1.46 billion has been paid from the Fund to the horse and greyhound racing industries in accordance with the provisions of the Act.

Exchequer support provided from the Fund is crucial to the survival and continued development of the horse and greyhound racing industries. In Budget 2022 an allocation of €88 million was provided for the Horse and Greyhound Racing Fund.

This will be distributed in accordance with Section 12(6) of the Horse and Greyhound Racing Act, 2001, with 80% going to HRI (€70.4m) and 20% to RCÉ (€17.6m).

I have no current plans to introduce legislation to provide a separate exchequer funding mechanism for HRI and RCÉ and the industries they support.