Standing Finance Committee: Clarke to explain $70 million allocation to horse racing

Finance Minister Dr Nigel Clarke is to explain to Parliament the government's allocation of $70 million to the horse racing industry. 

This after eyebrows were raised at today’s meeting of Parliament’s Standing Finance Committee when Opposition member Lisa Hanna sought answers to a line item under provisions for the Betting Gaming and Lotteries Commission, which she labelled as “curious expenditure”.

“Why are we spending $70 million over the financial year in an entity which has been divested?” Hanna asked in reference to the similar amounts spent over the last two years on Jamaica’s richest horse race, The Diamond Mile.

“I think we’ll have to refer to the divestment agreement to get an understanding there,” the finance minister said.

Clarke said he would have to ascertain the true picture and report back to Parliament.

Hanna contended that she found it odd that Government was proposing to spend a large sum of money on one race (The Diamond Mile) when the entity in charge of horse racing was a private one.

The Government divested its interest in Caymanas Park since early 2017, handing over operations to Supreme Ventures and Entertainment Limited (SVREL).

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