The racing industry must be the most maligned and misunderstood activity in the country. The responsibility for this industry has always been vested with the Ministry of Finance. My understanding is that this has been so because of the thought that it was a major source of taxation. This has been a total misconception, and the taxation policies have been the major contributor to successive failures of the various groups who have attempted to manage the business.

There needs to be a radical change in how racing is handled, and it is hoped that responsibility for overseeing this industry be transferred to a ministry that appreciates the tremendous potential that is contributed to the social and economic development of this country. The basic facts concerning thoroughbred racing are:

a. Current annual turnover of J$7 billion.

b. Employment for some 20,000 persons, with another 100,000 benefiting indirectly.

c. Career development for a number of professionals, including veterinarians, farriers, jockeys, grooms, exercise riders and trainers, some of whom have found lucrative employment abroad, adding to the important remittance pool for Jamaica.

d. Investment support in agriculture, with the breeding of the racing stock. This agricultural input has an important export potential which is crying out for development.

With all that it has to offer, it is inexplicable that successive governments have failed to act with a positive attitude towards the industry. The problems that we face are far from insurmountable. In fact, the solutions are quite simple:

1. Remove the restrictions of government ownership, and hand back the industry to the stakeholders with a management structure similar to that when the company was restructured in the early 1970s. Basically, this model vests ownership in all the stakeholders - trainers, breeders, jockeys, grooms and owners. The company would be operated as a non-profit organisation, with all the surpluses ploughed back for the benefit of ALL participants.

2. Strengthen the regulatory agencies by combining the current Jamaica Racing Commission and the Betting Gaming and Lotteries Commission to ensure the ability to afford top-class management. This new commission could be structured with the best management talent heading the three major divisions - gaming and casinos, lotteries and racing.

3. Resolve the long outstanding and controversial situation with respect to the bookmakers who are allowed to market the product of the promoting company without making a meaningful contribution to the cost of that operation.

4. Establish permanent funding for thoroughbred racing from all gaming activities. This is in recognition of the value of employment and career opportunities offered, compared with the other gaming activities. Globally, racing interests have had to seek government intervention to support their activities through contributions from other gaming activities, since escalating costs cannot be met from the income generated in an increasingly competitive environment.

We must never forget that thoroughbred horse racing is still the most popular sport, attracting thousands of people not only to the track, but also to the many off-track outlets scattered all over the island. Restructuring is needed urgently. The formation of a ministerial committee, including the minister of investment industry and commerce, the minister of tourism and entertainment, and the minister of agriculture, may facilitate an advisory function for Cabinet. Portfolio responsibilities for the industry could be handled by any of these ministries.

We look forward to a positive response to the crisis, which once again confronts this vital industry.

Howard L. Hamilton, CD, JP, is the current president of the Jamaica Thoroughbred Owners and Breeders Association, and is a former chairman of Caymanas Track Ltd. He may be contacted at email: howham23@gmail.com.