Funding for the Horse and Greyhound sector is to be discussed today when the Joint Committee on Agriculture, Food and the Marine meets the Minister for Agriculture, Food and the Marine, Charlie McConalogue to discuss the draft Horse and Greyhound Fund Regulations 2022.
Committee Chair Tipperary TD Jackie Cahill says State financial support for the sector is pivotal to the viability of both industries.
Budget 2023 allocates €91 million for the Horse and Greyhound Racing Fund, with 80 per cent going to Horse Racing Ireland (€72.8m) and 20 per cent to Greyhound Racing Ireland (€18.2m).
At present all funds raised by taxes on betting are ring-fenced to be distributed to the Horse and Greyhound sector each year.
Under the rules of the funding up to 80% can be distributed as prizes and this income is tax free to the owners of the animals involved. More than €42m in public funds was paid out in prize money at horse races last year.