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Tenders invited for an Independent Review of the Horse Racing Industry

Simon Coveney TD, Minister for Agriculture, Food and the Marine today said that the Request for Tenders for an independent review to be carried out regarding certain aspects of the Horse Racing Industry has been published by his Department. 

The Minister said "The Irish bloodstock industry is of enormous economic benefit to this country, providing 16,000 jobs, almost €1bn in economic output with exports worth some €147m to 36 countries in 2010 and my overall objective, which is shared by the Government, is to ensure that the sector's world class standing and reputation is protected and maintained into the future".  

The Minister said he wanted to give a renewed impetus to the development of the sector and in this context had indicated that he would have an independent review carried out. The Review will deal with a number of crucial aspects such as assessing whether the current legislation provides the most appropriate governance structures for the horseracing industry and evaluating whether the Horse Racing Ireland Board structure, size and nomination process is appropriate.

The Minister added "the Review will also consider the scope for streamlining the functions assigned under the legislation having regard to efficiency, effectiveness, economy and independence of regulatory decisions and will review the current funding arrangements for the industry having regard to funding systems in place in other major racing competitor countries". 

In conclusion, Minister Coveney added "In retaining the annual allocation to the Horse and Greyhound Fund in the recent budget, the Government gave due recognition to the contribution that this export orientated industry can make to national recovery".

Note for Editors:

The Call for Tenders document is available on http://www.etenders.gov.ie

Date Released: 23 December 2011