“LADIES and gentlemen, it gives me great pleasure to join you during these extraordinary times for the ITBA National Breeding & Racing Awards 2020. I would like to thank the ITBA for its kind invitation.

“The tumultuous events of 2020 and the continuing pandemic have had a significant impact on your industry, and it is fitting that at the beginning of 2021 we honour the exceptional achievements of those receiving awards today.

“I wish to compliment the ITBA and other stakeholders for their buy-in to the strict protocols which allowed racing to resume (albeit behind closed doors) on 8th June, 2020. Even in the midst of the Covid-19 pandemic, Irish-bred and -trained horses had major global successes in 2020.

“You, the people participating in today’s event, and your colleagues, have ensured the Irish breeding industry remains extremely competitive at a global level, despite other major racing nations having far larger populations and economies.

“An important pillar of Government policy is to ensure that the horseracing and thoroughbred industry achieve its maximum potential, and in so doing, contribute to economic and social development across a wide geographic swathe of the country.

“It is estimated that the thoroughbred industry has an annual economic impact of €1.9 billion with direct and indirect employment of 29,000 people; in addition, the industry brings a high level of international investment into Ireland.

Competitive

“The Irish equine breeding and racing industry is extremely competitive at a global level. We are the third biggest producers of thoroughbred foals in the world and estimates place Ireland only behind the United States as the biggest public seller of bloodstock globally.

“Each year the ITBA recognises those who have made a lasting and invaluable contribution to the Irish breeding industry, and I would like to warmly congratulate all those who are being recognised today.

“It is particularly fitting that this year’s inductee into the Hall of Fame is the Irish National Stud, which since its establishment has played an integral part in the Irish thoroughbred industry at home and abroad.

“Many of today’s leaders of the Irish thoroughbred industry graduated from the INS’s breeding course, which has earned itself a world-class reputation.

“Government funding not only supports this key industry but also presents an excellent opportunity to yield a high return for its investment leading to a flow of income right through the economy, thereby providing widespread benefits on an all-Ireland basis.

“The Government has allocated record funding of some €76.8 milliom for Horse Racing Ireland in Budget 2021. This funding will continue to support development of this vitally important industry and contribute towards mitigating the continuing impact of Covid-19.

“I commend the ITBA for its engagement with, and valuable input into the EU/UK Brexit trade agreement through its chairmanship and secretariat of the European Federation of Thoroughbred Breeders’ Associations.

“The Northern Ireland protocol which forms part of this agreement was a very important achievement. It will allow your industry to continue to operate on both parts of our Island in a seamless manner.

“My Government colleagues and I are acutely aware of the continuing challenges your industry faces when moving thousands of equines to Britain on annual basis for racing and trade purposes.

“We will continue to work with you and we will continue to support you and other stakeholders in operating within this new environment.

“I wish to conclude by congratulating once again all the award winners. I also wish the ITBA and all involved in the industry continued success and better times ahead in 2021.”