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Sunday, May 16, 2021

Irish and English Politicians Fail to Recognise the Importance of Racing to the Economy

It takes a special kind of stupid to make Australian Politicians look good, but their Irish and English counterparts are doing their best.

Both Ireland and England banned racing even after Australia provided a workable model for racing to continue, the out of touch politicians chose buy in to the hysteria but the price is being paid by those in the industry and the economy itself.

The horse racing industry in the 2 countries is today worth billions to the economy per annum, employs tens of thousands of people. Read the deloitte’s Economic Impact Study into the Irish breeding and Racing industry

Instead of following a proven model Ireland and England both face uncertainty and a lack of political will in their racing future. Australia, Japan, Hong Kong, USA and Scandinavia continued racing successfully throughout this period. France is set to return to racing while Ireland and England flop around at the will of uncaring politicians.

Given the size of the industry Horse Racing is severely underrepresented in the political arena much like the rest of traditional economy, but as the world tries to recover from the Virus and overzealous reactions the importance of jobs should be at the forefront of their thinking.

Horse Racing faces this problem at a global level and industry participants should be push for Pro-Racing Politicians to address the challenges not only of the pandemic, but also the “idiot fringe” Green activists, the tax hungry bureaucrats and in the USA the drug issue.

S. Jack Heffernan Ph.Dhttps://www.shayneheffernan.com
S. Jack Heffernan Ph.D. Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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