Horse Racing Industry Funding

Dáil Éireann Debate, Wednesday - 16 November 2016

Wednesday, 16 November 2016

Ceisteanna (210)

Clare Daly

Ceist:

210. Deputy Clare Daly asked the Minister for Agriculture, Food and the Marine further to Parliamentary Question No. 421 of 8 November 2016, if he will provide a list of recipients who commercially and financially benefit from the spending of taxpayers' money on marketing activities by Irish Thoroughbred Marketing, while acknowledging this kind of marketing and promoting is a critical element in the development of the Irish thoroughbred sector; if he will explain in precise terms the way in which all taxpayers benefit from this expenditure of public funds; and if he will make a statement on the matter. [35245/16]

Freagraí scríofa

Minister for Agriculture, Food and the Marine

Irish Thoroughbred Marketing (ITM) is funded in part by an HRI grant (€1.275 m in 2016) and in part from outside sources totalling an estimated €834k in 2016 (Foal Levy €415k, sales companies €319k, stallion owners €100k).

You will be aware of the broad remit of ITM to promote and market the Irish Thoroughbred racing and breeding industry internationally, as well as in its role in promoting racehorse ownership in Ireland.

This ITM work produces significant financial return for the exchequer through direct inward investment into the country creating many jobs; all the subsequent taxation generated from the operation of training and breeding establishments; the related importance for the many connected ancillary bloodstock services; the positive impact on the broader local economy around Irish bloodstock sales; and the tax returns (VAT) on the sale of bloodstock.