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Racing big winner in Budget

© Photo Healy Racing

The Horse and Greyhound Fund received a significant increase in yesterday's Budget announcement, with about an extra 25% being made available to both industries.

The Fund, which is distributed on an 80-20 divide between horses and dogs respectively, will be €68m in total next year, compared with €54m for 2014.

Finance Minister Michael Noonan referred to racing in his budget speech saying, "In recognition of the importance of the Irish Bloodstock Industry to the rural economy and the anticipated yield of €25 million per annum from Betting Duty, the Government will be providing an additional €6 million a year for 3 years to the fund for horse and greyhound racing.

"The Government is also allocating additional capital of €5 million to Horse Racing Ireland in 2015 to leverage investment in race courses."