HRI welcomes Seanad report

Horse Racing Ireland (HRI) Chief Executive, Brian Kavanagh, has welcomed the report of the Seanad Special Select Committee titled ‘Brexit: Implications and Potential Solutions’, and the recognition in the report of the serious challenges facing the Irish horse racing and breeding industries.

The report concludes a series of public hearings and deliberations of the Seanad Special Select Committee on the withdrawal of the United Kingdom from the European Union.

The Irish racing and breeding industry is heavily dependent on Britain as its main market with the sector considerably exposed in the event of a ‘hard Brexit’. Sixty-five per cent of Ireland’s annual foal crop is exported and 80% of these exports are to Britain. The export of thoroughbreds alone is worth approximately €225 million per annum to the Irish economy.

HRI chief executive, Brian Kavanagh, said: “Brexit has very serious implications for the Irish thoroughbred racing and breeding industry. We take encouragement from the fact that the committee also recognise, among other issues, how crucial it is that a Tripartite Agreement for free movement of thoroughbreds between Ireland, Britain and France be maintained.”