Horse racing industry faces major overhaul

Agriculture Minister Simon Coveney has said he is to proceed with implementing the recommendations of a major report into the horse racing industry.

Released in August, the Indecon Report made a total of 37 recommendations, one of which stated that the €29m annual subvention taxpayers give to the racing industry was unsustainable.

The report said if a duty was applied to all of the €4.6bn worth of bets laid by Irish punters it would almost eliminate the need for a taxpayer subvention.