Howard Hamilton was recently returned as president of the Thoroughbred Owners and Breeders Association (TOBA) at the organisation’s annual general meeting.

Hamilton who is part owner of HAM Stables, the current champion breeders, says his main objective during the current term is to provide the environment for the breeding industry to grow and remove itself from its present stagnation.

“Currently the breeding industry is just tottering along. The foal population has decreased significantly over the years, suffering from the vagaries of high inflation and punitive taxes,” Hamilton said.

The TOBA meeting had as its guest speaker, Minister of Finance and Planning Dr Peter Phillips, who indicated to those gathered that the ministry was looking very favourably at reducing or removing the importation tax on imported horses.

In response to this development Hamilton said the present tax was simply too high. “Forty per cent plus GCT of 16.5 per cent is killing the industry. Breeders are unable to restock and grow leading to a downturn in activities. This inability to restock leads to fewer foals and a corresponding decline in runners going to the racetrack and of course the less runners you have the worse it is for the racing industry which is having woes of its own,” the TOBA president said.

Hamilton said the task of the association now is to present the finance minister with further documentation for consideration and ultimately for the removal or a substantial reduction of the tax.

“Our task is to continue strong advocacy on behalf of our members. We are well advanced in preparing the relevant documents we have been asked to put together. Thereafter we are at the mercy of the ministry. What I do know is that all the breeding farms are suffering, and if we are to survive as an industry, something has to be done. We await the further response of the government on this issue,” Hamilton said.

The TOBA meeting also re-elected Peter John Asher as vice-president and Yvonne Brown as secretary manager of the association.