Stakes increase fillip for industry
THE Tasmanian Government yesterday delivered some good news for the state’s racing industry when it confirmed a $660,000 increase in prizemoney effective from next month.
Racing Minister Jane Howlett said the announcement of the 3 per cent increase in stakes will give industry participants confidence as they emerge from the interruption caused by the pandemic.
“While many industry participants had expected stakes money to be reduced in 2020-21 due to the loss of racing revenue over recent months, the increase will be very welcome news,” Howlett said. “The increase, that equates to a 3 per cent lift in stakes in the new financial year, will give participants confidence to invest in their racing animals across all three codes.
“The stakes increase will be funded internally by Tasracing with prospective revenue generated from the Point of Consumption Tax,” Howlett said.
However, Shadow Minister for Racing, David O’Byrne, described yesterday’s announcement as “deceptive and shameful”.
“Industry supported the introduction of the POC tax on the basis they would get a fair share to reinvest in the industry and reduce reliance on government funding. Instead, government appears to have unilaterally allocated tax revenue to prize money, and not given the industry a voice in how funds would be best spent.”
“The government also has failed to grasp the pain caused by its decision to shut down the industry. In Victoria, where racing was not closed down, a substantial package was developed to support the three codes. The government has continued to be deceptive in that it continues to offer the industry financial support that is in effect giving the industry its own money.
“Jane Howlett and Peter Gutwein have failed to grasp the level of pain inflicted by their government and they are not prepared to make it right by developing a support package so the industry can protect as many jobs as possible.”
Racing resumes tomorrow with a thoroughbred meeting in Launceston and a twilight harness meeting in Hobart with the first greyhound meeting scheduled for Monday night in Launceston.