Brexit – how will it affect the Equine industry?

The equine industry

The British equine industry is worth around £7 billion to the economy annually and employs around 200,000 people full-time, mostly in rural areas. As a nation, we are considered one of the world leaders in equestrian sport and this is unlikely to be challenged with our exit from Europe.

Value of the pound

The pound has fallen sharply following the Brexit vote. Should the pound remain at a historic low then this will encourage international trade for British bred horses, particularly in the thoroughbred sector. The value of the pound against the dollar is probably the most important factor and it may create bumper sales this autumn, as yearlings are exported for sale in America.

Freedom of movement – riders / grooms

A large number of non-UK citizens are already employed in Britain, particularly in racing. EU citizens already working over here will not be asked to go home. A large proportion of non UK grooms are from outside of the EU, which is a trend that many in racing wish to see continue to alleviate staff shortages.

Many of those who work with horses will spend time working abroad to further their experience and training. As yet, it is unclear whether UK nationals will require a work permit to take up temporary working placements in European countries while Britain extracts itself from the EU.

Freedom of movement – horses

Over a period of time, it is likely that border control regulations between Britain and the EU will change, with a possible impact on the ease and speed that equines can be moved across the borders both for competitions and imports/exports.

Export trade

The UK produces many equestrian products which have achieved international renown and demand.  The value of the pound may give these products a short term boost, but the medium and long term prospects will focus around trade deals which will take several years to negotiate.