PARIS: Brexit poses a threat to €225 million in bloodstock exports to Britain and other key elements of the racing industry, the sport’s administrative body warned at the weekend.
Britain is Irish racehorse breeding’s biggest export market, taking eight out of every 10 thoroughbreds that are sold abroad, a business that is worth €225 million a year to a largely rural industry.
Brian Kavanagh, chief executive of State body Horse Racing Ireland (HRI), said weakened sterling and the risk that the UK’s exit from the European Union would result in trade barriers could damage the sector.
“Britain is the main market for both flat and national hunt horses and that would be at risk,” he said. “Any barrier to trade flows or the exchange rate could make Irish horses more expensive or result in lower returns to vendors.”
