New horse industry cuts will close courses, cost jobs

HORSE RACING Ireland chief executive Brian Kavanagh last night announced draconian cuts for the sport and warned that the national equine industry’s future may be ‘unravelling.’

HRI have slashed prize money by 10%, asked staff to take a 6% pay cut while there will be no funding for any racecourse capital development projects in 2010. Racecourse support schemes will also be hit as will grant aid to industry bodies including the Irish Thoroughbred Marketing and the Order of Malta.

Mr Kavanagh then predicted massive job losses across the sector and said that closures of some race courses was ‘inevitable’ in the years ahead.