THE Minister for Agriculture has granted an additional €2.3 million to Horse Racing Ireland [HRI] for 2027.

Government funding for racing remained steady at €79.3 million this year but, following Tuesday’s Budget announcement, it will rise to €81.6 million next year. Minister Martin Heydon said: “I have allocated a further €2.9 million for the Horse and Greyhound Fund. The proposed increase in the Fund will be linked to the implementation of the Indecon Review’s recommendations in respect of equine and greyhound welfare and integrity. This will form part of the Department’s overall animal welfare package.”

HRI receives 80% of the Horse & Greyhound Fund, so the semi-state body can expect to get €2.3 million of the extra €2.9 million in the fund.

In response to a question from The Irish Field at a post-Budget press briefing on Wednesday, Minister Heydon said: “I’m very proud to increase the funding for the Horse and Greyhound Racing Fund.

“I want to put that on the record because these are industries that employ thousands of people and are worth billions of euro to our economy. They are an integral part of the fabric of rural Ireland.

“I referenced the Indecon report, which was a result of the Public Accounts Committee’s review of the Horse and Greyhound Fund, and that did point to additional spending on welfare to be considered in the future. That very much tallies with the strategic plans of Horse Racing Ireland and Rasaíocht Con Éireann.”

HRI chief executive Suzanne Eade welcomed the 2.9% increase in government funding. She said: “This additional support from the Department of Agriculture, Food and the Marine is essential for the future of the Irish horse racing sector. HRI’s 2027 budgeting process is now underway, and prioritisation will be given to key deliverables within the Strategic Plan 2024–2028.”

Published last October, the Indecon review made five recommendations, four of them affecting HRI and/or the Irish Horseracing Regulatory Board [IHRB].

It recommended that HRI should spend at least 20% of its current allocation on integrity and can spend no more than 80% on prize money. The review recommended that the Department of Agriculture should monitor HRI’s commitment to raise its annual welfare budget by 70% by 2028. Indecon also noted that some recommendations from the Suann review of the IHRB anti-doping programme are still not implemented because of funding. The IHRB puts the cost at about €1.5 million extra by 2028.

Independent Ireland

Kildare councillor Bill Clear has welcomed the increase in funding for the racing industry. The Independent Ireland representative has called for an industry-wide conversation on how the additional funding should be spent.

He noted recent comments attributed to the Irish Racehorse Trainers Association expressing concern that additional race meetings scheduled for 2027 will reduce the average prize money per race.

Cllr Clear suggested that an industry-wide exchange of ideas by way of a day-long seminar might bring fresh ideas for the benefit of the industry. He suggested a review of the roles of the Irish Horseracing Regulatory Board and the Horse Racing Authority might bring economies of scale.

Annual report

HRI posted a larger surplus of €6.5 million in its 2025 annual report, helped in part by delays to spending on several major capital projects. That money is being set aside to fund the redevelopment of the National Equine Campus and the Irish Equine Centre, as well as upgrades at a number of racecourses.

Income at the semi-state body rose by €4.3 million last year, driven by government grants, net racing income and bookmaker fees.

HRI cleared its €6.8 million in bank loans in full. However, in March 2026 it signed a facility agreement with Bank of Ireland for up to €34 million to fund an all-weather track at Tipperary Racecourse, repayable over 14 years.

Spending rose by €900,000 to €116.8 million in 2025, reflecting higher prize money along with increased governance, administration and promotion costs.