I got my wife one of those fish pedicures for her birthday, and I have to say I'm very satisfied with the results. Those piranhas don't feck about
Best laugh of the year yet!
Power is good. Control is better. (Lenin)
European Courts have ruled that the VAT rate on racehorse sales will have to increase. Currently 4.8%. Who knows what it will end up at. Personally, if it was 10% it wouldn't bother me. If we spend €20k at the moment, we pay €1k in VAT and at 10% will have to pay €2k. It's not a deal breaker. But if you are buying a lot of horses or at the upper end it could be an issue.
Piece in the RP suggesting the VAT rate will be 13.5% and also be applicable to training fees which would be a major issue. Its essentially an extra months training fees, at least.
That is not sustainable.
Clare Balding for President.
Just watched Max Keiser (E429) and his guest interviewee, whilst not the best communicator in the world, described a possible 'new Irish bailout' but with the potential to become a 'Cyprus' outcome.
Whilst MK is definitely a rogue and broadcasts on a pretty radical tv station he does seem to get a handle on things.
Anyone in the know?
MR2
HRI government funding down 4 million next year
Some people say he’s the best since Arkle and that’s certainly true when you look at what he’s done
Prize money in Ireland is to increase a small bit next year, and the budget for integrity services will also see a small increase. From the Irish Field:
Prize money increases confirmed
Article Date: 16-December-2013
Horse Racing Ireland (HRI) today announced increased prize-money, reduced administrative costs, increased promotion of ownership and additional support for integrity services - measures which were approved by the HRI board at its meeting on Friday 13th. The changes had been flagged by HRI Chairman Joe Keeling at the annual racing awards on December 9th when he outlined his commitment to improved prize-money and reduced costs of ownership.
Prize-money in Irish racing will increase by 5% in 2014, from €46.2m to €48.5m, including an increase in the minimum race value from €7,000 to €7,500.
Reductions in administrative charges for racehorse owners and trainers will amount to 10%, representing € 311,000 overall. The horses-in-training levy, for example, is reduced from €18 to €10 per horse. The changes will take effect from January 1st.
Racehorse ownership is a priority for 2014 and an extra €120,000 will support Irish Thoroughbred Marketing’s work in this area. An additional allocation of €167,000, as requested by the Turf Club, has been approved for Equine Forensic Testing.
Other than the completion of projects approved in 2013, there will be no racecourse capital development grant scheme in 2014. Work has commenced on seeking to establish a new scheme from 2015 onwards.
Commenting on the changes, Brian Kavanagh, HRI Chief Executive, said: “HRI’s registration charges have all been frozen since 2008 and these reductions will go some way to retaining horses in training and encouraging new owners to get involved with the sport. The decline in ownership since 2008 is one of our greatest concerns, which is why we have appointed a dedicated ownership manager and increased the ownership promotion budget. Improved prize-money and reduced administrative costs will help that initiative considerably.”
The reductions for 2014 are facilitated by anticipated savings through the implementation of streamlining between HRI and the Turf Club and further reductions in HRI’s overall cost of administration. The reductions will be seen in the charges against owners’ accounts for a range of services provided by HRI’s racing and client accounts departments, such as horses’ names, owners’ colours, authorities to act and the registration for racing purposes of partnerships, syndicates, clubs and companies.
Prize-money details
The minimum value for Irish races is being increased from €7,000 to €7,500. Other increases, by race type, are set out below:
Flat Races
Maiden races
from €7,000 to €9,000
Winners races
from €8,000 to €10,000
Handicaps (0-70)
from €8,000 to €8,500
Handicaps (0-90)
from €13,000 to €15,000
National Hunt Races
Handicaps ( 0-102 )
from €8,000 to €8,500
Handicaps (0-123 )
from €14,500 to € 15,000
Maiden Hurdles
from €7,500 to €8,000
Beginners Chases
from €8,000 to €9,000
Novice Chases
from €11,500 to €12,500
Grade 3 Weight-for-age
from €27,500 to €30,000
Grade C Handicaps
from €27,500 to €30,000
The new minimum values will apply from January for National Hunt racing and from the start of the Flat race summer season (23rd March 2014) for the Flat.
Bookmaker Ladbrokes Ireland, is seeking High Court protection from its creditors and warns it will have to cut jobs in a bid to rescue the loss-making business.London-listed Ladbrokes, said on Tuesday that the High Court has appointed Ken Fennell as interim examiner to three Irish subsidiaries, Ladbroke (Ireland), Ladbroke Leisure and Dara Properties.
The court has also granted them protection, effectively barring creditors from enforcing any debts against the three companies for up to three months.
The companies’ directors applied to the court for its protection and for Mr Fennell’s appointment.
“The decision to seek examinership follows several years of declining profits in Ladbrokes Ireland culminating in a loss after interest and tax of over €5 million in the last financial year,” a statement said.
Ladbrokes plc chief executive, Jim Mullen, described the action as regrettable but absolutely necessary to safeguard the Irish business.
“This step has been taken in the best long term interests of Ladbrokes Ireland, its employees, customers, partners and shareholders,” he added.
Ladbrokes Ireland retail director, Jackie Murphy, warned that the examinership is likely to lead to the loss of some of its 840 jobs.
“We are fully committed to work with all our staff through this difficult time and would hope that the vast majority of any necessary redundancies will be voluntary,” he said.
Examinership allows troubled or insolvent companies, with a reasonable prospect of survival, up to 100 days to come up with a rescue plan.
Ladbrokes stressed in its statement that it will be business as usual for its 196 betting shops, while its digital and telephone betting operations will not be affected.
Some people say he’s the best since Arkle and that’s certainly true when you look at what he’s done
icebreaker (21st April 2015), Roddy Owen (21st April 2015)
Some people say he’s the best since Arkle and that’s certainly true when you look at what he’s done
Tomorrow's post doesn't have good news regarding racing in N Ireland
Some people say he’s the best since Arkle and that’s certainly true when you look at what he’s done
I wouldn't be too concerned, it's a case of sounding the alarms before getting into negotiations.
Punchestown to undergo some big developments in 2016
http://www.punchestown.com/news-info/news/?article=291
Some people say he’s the best since Arkle and that’s certainly true when you look at what he’s done
Diamond Geezer (21st December 2015)
Some people say he’s the best since Arkle and that’s certainly true when you look at what he’s done
Record prizemoney of €60.5 million for Irish racing in 2017
New €10,000 minimum race value will be a boost for the large majority of owners
Brian O'Connor
The largest prizemoney pot in Irish racing history will be up for grabs in 2017 after confirmation that €60.5 million is in place for next year’s action.
Horse Racing Ireland has released its 2017 budget and next year’s prizemoney will trump the fund that was in place at the height of the economic boom in 2008 by €100,000.
The new minimum value for any race run in Ireland will be €10,000, an increase of €1,000, and HRI has indicated new base value increases will be targeted at race types where the largest section of the horse population, and the majority of owners, compete.
That means likely boosts to lower grade handicaps and ‘point of entry’ races such as flat maidens, bumpers, maiden hurdles and Beginners Chases.
With widespread concerns about competition levels, especially over jumps, racing’s ruling body has guaranteed at least one race worth €15,000 will be programmed each race day, with at least 75 per cent of fixtures containing a race worth at least €20,000.
HRI believe this will help smaller racecourses in particular to promote race days and such values are also intended to give more opportunities to smaller owners and trainers.
The 0.5 per cent levy paid by bookmakers in the under-pressure on-course market will be halved and HRI has indicated bookmaker charges will be further reduced in future.
A €9.6 million integrity service budget for 2017 includes €1.9 million of capital expenditure, which includes previously announced laboratory equipment for racing’s forensic unit, while point to points will see increased grants of €6,500 per meeting and a 55 per cent increase in prize money.
Grants of €1.35 million for the Irish Equine Centre and almost €1.1 million for Irish Thoroughbred Marketing have also been approved.
“The budget has an emphasis on improving the situation for many participants in the industry who have been struggling in recent years and is designed to deliver a positive impact throughout the country,” said HRI’s chief executive, Brian Kavanagh.