LABOR says it will inject $70 million into country racing’s 100 non-TAB racing clubs over four years if re-elected on November 25.
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Premier Annastacia Palaszczuk said the government had formulated a new funding package based on feedback from country racing stakeholders and industry participants.
Country racing is currently receiving about $5m a year in government funds, leaving about a $12m shortfall in running costs including prizemoney. The remaining $12m is being provided by Racing Queensland based on betting turnover from city and provincial race meetings.
Central West Racing Association president country racing board member Gary Peoples said the announcement was a major win-win for racing industry throughout Queensland.
“We’ve been working for some time to security of future of country racing,” Mr People said. “This package is fantastic and recognises country racing’s place in bush communities.”
Mr Peoples said he hoped the LNP at would at least match the offer made by Labor.
“As country racegoers enjoy today's Melbourne Cup, I can't think of a better time to support the Queensland country racing industry,” Ms Palaszczuk said.
“It’s great for jobs, country race clubs and local economies.”
Ms Palaszczuk said more than 1850 regional Queenslanders relied on the racing industry for full-time employment, with country racing contributing $225m to the state economy.
“Some country race clubs might only race once or twice a year, but these race days are huge social occasions for communities around the state.
“That’s why we’re going to be the first government in Queensland history to treat country racing as a community service obligation.
"Our $70 million investment will not only maintain existing prize money levels, it will also enable us to deliver increased prize money in the years ahead.”
Racing Minister Grace Grace said an economic impact study by economic researcher IER has found racing contributed $1.2 billion to the Queensland economy, with more than 47 per cent of economic impact benefiting regional Queensland,” Ms Grace said.
“While the economic impact of racing in regional Queensland is established, the social impact can be just as great with many clubs becoming an integral part of the local community.”
“Of the 845,000 people who attended race meetings, 69 per cent were in regional areas, demonstrating the fact that racing is deeply woven into the social fabric of regional Queensland.
“The extra funding we’re announcing today is in addition to the $6m Country and Regional Capital Works Package announced earlier this year, which is delivering new and improved racing infrastructure throughout the state.
“We’ve also delivered $778,000 to nine country and regional race clubs facing hefty repair bills following Cyclone Debbie – vital funds that they’re using to rebuild key infrastructure.
“Jockeys, owners, trainers, stablehands and other industry participants will all benefit from our increased investment in country and regional racing.”
The $70m package has also been welcomed by One Nation and the Katter Party.
