Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Betting Levy to be repealed


Rt Hon Winston Peters

Deputy Prime Minister
Minister for Racing

PRESS RELEASE

17 May2019

Racing Minister Winston Peters has announced a repeal of the betting levy (racing totalisator duty) currently paid by the racing industry to the Crown.

Mr Peters made the pre-Budget announcement when opening the Karaka May sales auction in Auckland today.

The Minister announced that payment of the levy to the Crown will be phased out over a three-year period, with freed-up funds to be redirected to the racing and sports sectors. The betting levy represents 4 percent of betting profits which amounted to $13.9 million in 2018.

“Redirecting the betting levy is a step towards revitalising of the racing industry. It was a recommendation of the Messara review of the racing industry, and was endorsed by the Ministerial Advisory Committee (MAC),” said Mr Peters.

“The funds will be redistributed to the racing Codes and Sport New Zealand, with a proportion set aside to support the reduction of gambling harm.

“This change will provide an important source of revenue for industry investment decisions,” Mr Peters said.

“The racing industry plays a vital role in the New Zealand economy, having contributed $1.6 billion to the economy in 2016/17 whilst employing tens of thousands of New Zealanders, many of them young, and boosting New Zealand’s exports.

“It is important that the industry is revitalised and placed on a sustainable footing for the future. Redirecting the betting levy funds is only one of a number of steps the government is undertaking,” Mr Peters said.

Last month the Minister also announced a Government agreement to a stepped response to the Messara Report, introducing two new pieces of legislation to bring new governance arrangements and other sources of industry revenue.

Ends



© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

SCOOP COVERAGE: CHRISTCHURCH MOSQUES TERROR ATTACK


camouflage

Gordon Campbell: On Why We Shouldn’t Genuflect To Calls For Secrecy

Reportedly most (and possibly all) of the Royal Commission investigation into the Christchurch mosque shootings will be closed to the general public and to the media.

Oh sure, come delivery date in December there will be some kind of “public-facing” document containing conclusions and rationales, but there will have been no interim way of scrutinizing the inquiry’s rigour, or how fairly its findings reflect the evidence. More>>

 
 

Budget Announcements: Family And Sexual Violence Response

The family and sexual violence package, which sits across eight portfolios, is the result of the first ever joint Budget bid from multiple government departments. More>>

ALSO:

Deals, Sanctions, Consultation: National's Foreign Policy Plan

“National will prioritise our relationship with the United States.. National will also further the strong and dynamic economic relationship with China." More>>

ALSO:

Taking Children Into State Care: Minister For Children On The Nation

Simon Shepherd: ... So, we’ve seen this jump in the number of newborn Maori babies being taken from their parents in the last three years. Is that because it’s a directive from Oranga Tamariki to get involved earlier? More>>

ALSO:

Gordon Campbell: On The Christchurch Call

The zigzagging nature of Christchurch Call To Action's content (“steps to eliminate terrorist and violent extremist content online” on one hand… and “a free, open and secure Internet” on the other) reflects the genuine tension on this subject. More>>

ALSO:

Getting Moving: Wellington Transport To Get $6.4b Overhaul

A new $6.4bn transport project aiming to free up traffic in Wellington CBD will combine a mass transit system with an improved bus network, the government says. More>>

ALSO:

Privacy Commission Report: MSD Systematically Misused Fraud Investigation Powers

An Office of the Privacy Commissioner (OPC) inquiry has found the Ministry of Social Development (MSD) systematically misused its investigatory powers while pursuing benefit fraud, unjustifiably intruding on the privacy of many beneficiaries. More>>

ALSO:

Consultation Doc: Safety Focus In Improved Drug Driver Testing

Improving the safety of all road users is the focus of a new public consultation document on the issue of drug driver testing. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels