'There have been a number of irregularities in the industry' - Irish government launches review into racing's funding

The Irish government has launched a review into the governance surrounding the horse and greyhound racing fund to examine whether subsidising prize-money is the most efficient use of the state's contribution, worth €95m to those industries in 2024.

The review will be carried out by an external organisation and will also investigate whether the fund is appropriately used to ensure the highest standards of welfare in the industry. This comes after the government announced in October it would increase its contribution to horseracing by €3.2 million to €76m next year.

In a letter released last week, it was revealed that secretary general of the department of agriculture, Brendan Gleeson, wrote to Horse Racing Ireland (HRI) chief executive Suzanne Eade in June expressing his dissatisfaction with the controversial exit payment made to former Irish Horseracing Regulatory Board (IHRB) chief executive Denis Egan when he took early retirement in autumn 2021.

In March, it was revealed Egan received an exit payment of €384,870, a figure that was 58 per cent above what he was entitled to under the terms of the redundancy scheme.

Speaking on RTE Radio 1's programme Drivetime, chairman of the Oireachtas Public Accounts Committee and Sinn Fein TD Brian Stanley said: "These are two important industries. A lot of jobs are created and there's a lot of economic activity around them. We believe that the fund does need a review and it should be conducted in a timely manner. 

'The credibility of the horseracing industry is of particular importance'

"The main issues are the efficiency of the fund in terms of subsidising the prize-money, which in turn finishes up in the hands of the top 20 trainers in the country in horseracing and ensuring we have the highest level of animal welfare standards. 

"There have been a number of irregularities in the industry and issues of concern around financial and governance matters. A review of that funding is very important. 

"The department did undertake to carry out the review by the end of 2023 but we don't have it at the moment. I'm disappointed that it hasn't happened but my understanding is that it has moved forward. I had expected it to be completed by the end of September but obviously it hasn't happened. 

"There are other issues that have arisen in the meantime within the industry. The call I would have on minister [for Agriculture, Food and the Marine, Charlie] McConalogue is to ensure that this is expedited. What's important now is to complete that external review because the credibility of the horseracing industry is of particular importance."

Stanley added: "I take this seriously. We have a job to do to ensure that public money goes to the right places and that there is a full trail of accountability. I wouldn't expect anything less than that."

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