THE news this week that British racing, like its counterpart in Ireland, is to see its funding put on a more secure basis will be welcomed not only across the water, but also on this side of the Irish Sea.

A healthy racing product in Britain is good for the Irish breeding sector, given the importance of the Irish thoroughbred as one of our leading exports. The argument that offshore companies could never be touched by national governments when it came to matters of tax is well and truly buried now. The move made in Ireland to tax all bookmakers carrying out business here has certainly not gone unnoticed and I am sure will have been looked at when the new regime to be put in place in Britain was being initiated.