Taxpayers’ €29m grant to horse racing sector deemed unsustainable

The €29m annual subvention taxpayers give to the horse racing industry has been deemed unsustainable.

An industry report commissioned by Agriculture Minister Simon Coveney said the current structure of the Horse and Greyhound Fund could not be justified given the economic climate.

The Indecon consultants said funding needed to be replaced, and it supported the 1% duty on all turnover generated from bets based with indigenous or offshore bookmakers.