Report urges Government to protect funding

A report published today emphasises the severe threat the Horse Racing and Breeding Industry is under from the current economic downturn.

The report commissioned by the Irish Thoroughbred Breeders' Association highlights the emergence of adverse trends during 2009 and warns that further cuts to funding will result in dire consequences for the Industry.

Economist Alan Dukes who led the team of researchers stated: "In the face of these negative trends, any further reduction in the relatively modest level of net State support to the Industry would be seriously counter productive, particularly when support in our main competitor countries, the UK and France, remains at a much higher level than that prevailing here."

Trainer John Oxx commented on the report: "Ireland needs to support all of our indigenous industries and the thoroughbred industry is one which brings significant overseas income to Ireland.

"Ireland is a world leader in the equine industry and any move to cut funding to this industry would have a negative effect on all involved including trainers, jockeys, apprentices, stable staff and administrative staff. The majority of whom are based in rural areas where alternative employment is difficult."

Included in the report's findings are the following facts:

The gross value of the industry to the economy is in excess of €1.1billion.

A total of €290million is spent annually on training fees.

The value of thoroughbreds exported from Ireland in 2008 was €216 million.

There are 10,106 registered breeders in Ireland, 93% of whom own less than 5 mares.

The horse racing and breeding industry is a fully taxed environmentally friendly industry.

The industry provides significant benefits for the tourism industry, with approximately 80,000 visiting Ireland for race meetings, sales and stud operations.