Horse racing stables across Thirsk and Malton and many of other parts of the county are to receive nearly £500,000 worth of government grants and 12 months exemption from business rates. I have been fighting to secure the funds and working closely both Hambleton and Ryedale District Councils. The confirmation from central government on Friday that local authorities can now pay the grant led to confirmation that 17 stables with a rateable value below £51,000 will qualify for the Small Business Rate grant of £25,000 and a further 6 smaller stables will be awarded £10,000. They will all also be exempted from business rates for 12 months. Treasury ministers had originally said that the decision on eligibility would rest solely with the local authority leaving open the possibility that local taxpayers would have to pick up the tab if support was provided. I am very pleased that both local authorities now have confirmation that they will be reimbursed by the government so have agreed to include them.
Racing stables across North Yorkshire are a real asset to the local economy and to the community. They employ hundreds of people and provide pleasure, leisure activities and enjoyment for millions. It’s not only a great day out for family and friends but some of the yards have open days for the public and for racing syndicates so people can really get involved in the sport. As racing has temporarily been suspended there is a significant impact on earnings from both prize money and training fees so these grants will make a difference at an extremely challenging time.
Councillor Keane Duncan, leader of Ryedale District Council, said: “Horse racing is a vital and nationally-renowned part of Ryedale’s economy so it is good news that we now have the clarity we need from government to award grant payments to stables at this difficult time. Thank you to Kevin for his efforts on this issue, and for the officers at Ryedale District Council for their continued hard work in getting cash out to businesses so quickly. As of April 17, we have distributed grants worth £15.7m. We continue to do all we can to protect lives and livelihoods across the district.” Leader of Hambleton District Council, who was the first local council to confirm that they will make the payments also welcomed the news.
British Horse racing is the UK’s second largest sport-related industry worth £4.1 billion in annual revenue to the British economy directly employing 20,000 people and supporting employment for tens of thousands in rural areas. In Yorkshire there are nine top class courses holding 170 meetings a year including 13 at Thirsk racecourse.
