Owners of racehorses will increase their financial contribution to the welfare of retired racehorses, say the Board of the Racehorse Owners Association (ROA).
The contribution, which will increase from March 1, will see racehorse owners donate £1.25 every time their horse is entered in a race. This is up from £1.
It's the first time that the levy charged has been raised since 2009 and will go towards the Retraining of Racehorses, the racing industry’s official charity for the welfare of racehorses when they have retired.
Last year owners contributed £202,856 to the charity through the levy.
ROA Chief Executive Charlie Liverton said: “The welfare of retired racehorses is an area that the Board of the ROA remains focussed, given the important role that Retraining of Racehorses plays, not just for the horses of our own members during or after their racing careers, but for the wider industry as a whole.
“The 25% increase reflects the increased rate of inflation since the £1 levy was first established in 2009.
“Our members have responded positively to this decision, such is their concern that the interests of former racehorses remain a priority for owners. The ROA will continue to support Retraining of Racehorses in the important work that the charity carries out.”
Retraining of Racehorses Chief Executive Di Arbuthnot said: “We are very grateful to the ROA and its members for taking the lead on this and increasing their contribution to RoR.
"The increased revenue will be spread between our two core objectives. Firstly, promoting the versatility of former racehorses and providing them with opportunities for a fulfilling second career after racing.
"Secondly, ensuring their welfare is protected and stepping in to provide care and treatment should it be necessary.
"As the scale of the charity has grown, so have our costs, which makes this announcement all the more welcome. We would like to thank the ROA Board and members for their support.”
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