AT a board meeting this week Horse Racing Ireland signed off on its investment priorities for 2023 and published an outline of where it planned to spend its resources next year.

Suzanne Eade, chief executive of Horse Racing Ireland, said: “The investment choices for 2023 reflect a continued focus on our key strategic priorities for the industry whilst responding to some of the more recent economic challenges.”

Prize money

An increase of €1.7 million will bring the total to a record €68.6 million in 2023 (+2.5%).

Integrity services

Integrity funding is set to increase to €15.9m (+3%), This figure has grown from €12.6m in 2019.

Equine welfare

Investment in equine welfare activities and welfare-related grant funding will stay at €2.7 million, the same level as 2022. The ePassport functionality will be expanded in 2023 to close traceability gaps.

Education and Training

Investment in industry education and training will ride from €600,000 to €800,000. The additional €200,000 will fund activities operated by HRI’s industry and training division, equuip. This will include a human welfare framework for the industry to ensure that the correct supports and policies are available to retain our current workforce, along with the creation of an overall educational framework for industry.

Breeders

The IRE Incentive scheme, which sees €10,000 sales vouchers given to the winning owners of certain races, will be continued next year. It is envisaged it will lead to €1.3 million in vouchers spent on Irish-bred horses at Irish sales.

Racecourses

A total of 21 racecourses will be receiving grants from HRI for industry-focused projects under two capital development schemes targeting key elements of the racecourse infrastructure and standards such as stable yards (capacity and facilities), weigh rooms and the racetrack itself, including the upgrading of watering systems. Under schemes covering 2022/’23, 40% grant aid of €6.3 million has been approved towards projects totalling approximately €15.75 million.

Point-to-Points

There will be an increase to the funding for the point-to-point sector of €300,000 in 2023 with the total support, including point-to-point integrity, reaching €2.6 million (+14%). The increased grants per fixture introduced on a temporary basis for 2021 due to the impact of Covid-19 are now permanent and increased by a further €500 per fixture in recognition of the ongoing inflationary pressures being experienced by organisers.

Ownership

A sum of €700,000 will again be invested in ownership development for targeted initiatives to increase the number of new owners and to retain existing owners.

Sustainability

HRI has set up a sustainability task force which will outline key areas for future investment in promoting the green agenda as part of an overall sustainability strategy for the industry.