I thank Deputy Ní Raghallaigh for being in for agriculture questions today. It is great to see her here for this.
A very important pillar of Government policy is to ensure 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 Deputy is well aware that our own constituency of Kildare South benefits greatly from employment levels and economic activity in this regard.
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. For the horse and greyhound fund, this is economic activity that generally tends to happen in rural areas where there are not the same other employment opportunities as there are in the larger cities and beyond. The horse and greyhound racing industries, via Horse Racing Ireland, HRI, and Rásaíocht Con Éireann, RCE, receive financial support from the State through the Horse and Greyhound Racing Fund. In budget 2026, €99.1 million was allocated to the fund, of which €79.3 million will be allocated to HRI and €19.8 million to RCE. The allocation is subject to Oireachtas approval and is split 80:20 between HRI and RCE, respectively, as set out under section 12(6) of the Horse and Greyhound Racing Act 2001. I have no plans to introduce legislation to provide a separate Exchequer funding mechanism for HRI and RCE and the industries they support.
An independent review of my Department's governance of the fund, which included consideration of the efficacy of the fund in ensuring the highest standards of greyhound and equine welfare, has now been completed and a copy of the final report has been sent to the public accounts committee. One of the report’s key recommendations is to increase over the medium term the share of the fund ringfenced for welfare purposes. My Department will work with the bodies to implement this and other recommendations contained in the report over the coming months. A copy of the report is available on my Department’s website, under review of governance of horse and greyhound racing fund Ireland.
In July 2021, Jim Power Economics produced a report on the economic and financial significance of the Irish greyhound racing industry, which was also commissioned by RCE.