I thank Senator Boyhan for his kind words and wishing me well. On behalf of the Minister, Deputy McConalogue, I thank the Senator for his submission and for giving us the chance to discuss this topic. As Senator Boyhan was elected on the agricultural panel, which obviously also includes fisheries, I know this is an area of huge interest and advocacy for him.
I am delighted to be able to confirm that Government policy is to ensure the horse racing industry achieves its maximum potential and, in doing so, contributes to economic and social development over a wide geographic distribution. The valuable contribution to a balanced regional economy made by the horse industry is well recognised and is a key priority of both the Minister, Deputy McConalogue, and the Minister of State, Deputy Heydon. Government funding, in addition to supporting this key industry, presents an excellent opportunity to yield a high return for its investment, leading to a flow of income through many levels of the economy, thereby providing widespread benefits for our society. This sector is also crucial in driving a geographically balanced economy throughout our country. The Senator referred to the regional and rural economy, and I fully agree.
The importance of this industry has been acknowledged by successive governments and it is supported through legislation and policy initiatives. The world-class reputation for excellence in horse racing and breeding that Ireland enjoys today has been enabled by the support provided through public funds. The Senator stated it is the envy of other countries and I fully agree.
The horse racing industry receives financial support from the State through the horse and greyhound racing fund, under section 12 of the Horse and Greyhound Racing Act 2001. Payments are made from the Fund to Horse Racing Ireland, HRI, and to Rásaíocht Con Éireann, RCE. The Estimates for the Department, passed by both Houses as part of budget 2024, include an allocation of €95 million 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%, €76 million, going to HRI and 20%, €19 million, to RCE. Exchequer support provided from the fund is crucial to the survival and continued development of the horse racing industry.
As the Senator mentioned, Deloitte conducted a report, which estimated that, in 2023, the Irish thoroughbred industry had an annual economic impact amounting to €2.46 billion, supporting direct and indirect jobs of some 30,000 people. Ireland is the second largest producer of bloodstock in the world by value sold, after the United States of America. Ireland also has the world’s third highest number of thoroughbreds foaled each year after the USA and Australia. The thoroughbred sector is a firm part of our identity. The value of Irish-foaled thoroughbreds sold at public auction in 2023 was €334 million. Horse racing generates a significant return to the rural economy in Ireland and a positive international profile for our country.
As the Senator mentioned, the Minister, Deputy McConalogue, and the Minister of State, Deputy Heydon, recently noted HRI’s Strategic Plan 2024-2028. They welcomed HRI’s drive to protect, build and sustain Ireland’s position as one of the leading racing and breeding nations of the world. The Minister, Deputy McConalogue, is glad to see that HRI’s ambition is to grow this figure further while also acting on its social responsibility to industry employees and expanding educational opportunities in the sector.
In November 2021, the Oireachtas Joint Committee on Agriculture, Food and the Marine, of which the Senator is a member, published a report on horse racing in Ireland. At the committee’s request, an international equine anti-doping expert was commissioned to conduct an independent review of the IHRB’s equine anti-doping programme. This review concluded that the programme does “at least match international best practice in most respects and has made significant advances in recent years”.
The Department and stakeholders want to ensure the highest standards of integrity and welfare are maintained and that is what the Government is committed to.