Irish racing waits on 2021 funds but betting tax looks set to remain unchanged

Irish racing remained in limbo on Tuesday night regarding its funding for 2021 following the government's announcement of an €18 billion spending budget described by the finance minister Paschal Donohoe as "unprecedented in both size and scale in the history of the Irish state".

However, while Horse Racing Ireland, whose chief executive Brian Kavanagh refused to speculate before a department of agriculture briefing on Wednesday morning, awaits confirmation of how much money will be attributed to the Horse and Greyhound Racing Fund, bookmakers appear to have avoided a mooted quarter per cent increase in the rate of betting tax.

The omission by Donohoe of any mention of a betting tax increase that had been proposed by the government's Tax Strategy Group was cause for relief for a sector that has been under considerable pressure. In 2019, the rate of tax was doubled from 1 per cent to 2 per cent, and the strategy group had recommended a further hike to 2.25 per cent.