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Raising the Stakes

Issued : Thursday 21 January, 2010

Labour Proposals to Tax Remote Betting and Reform the Funding of the Horse and Greyhound Fund

The Labour Party acknowledges the importance of the horse and greyhound industries to the Irish economy. Both sectors provide substantial employment and the gross value to the economy of the thoroughbred sector, including bookmaking, has been estimated at €1.1bn

The original intention of the Horse and Greyhound Fund was to provide state financial support, principally through a levy on gambling. However, because of the reduction in the betting levy over the years, the direct cost to the taxpayer has increased significantly. The total direct exchequer contribution to the horse and greyhound fund has been estimated at €240m since 2001.

This level of direct exchequer subvention is no longer sustainable in the current economic climate and the Labour Party document will set out a series of proposals to put the funding of these sectors on a secure funding by a series of measures, including the introduction of a levy on remote betting.