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Trainers Fear for NZ Racing Industry future
Trainers Fear for NZ Racing Industry future
The New Zealand Racing Industry needs urgent attention if it’s to remain competitive according to National’s acting racing spokesman Paul Hutchison.
“When trainers and owners in the Melbourne Cup talk of relocating to Australia, we should be extremely worried,” says Dr Hutchison.
“Victory Smile trainer Donna Logan, says she can barely afford to keep her stable running on this side of the Tasman.
“The horse has been winning big money in Australia, at least $500,000 in two wins - and now she’s being asked to set up there.
“With comments like that, we should be very concerned.
“New Zealand horses have a long proud history in the Melbourne Cup, 31 of the great race’s last 50 winners were Kiwi-bred and we need to make sure that continues
National backs changes to the tax laws so that racing’s on an even keel with other forms of gambling.
“Racing Duty is payable at the rate of 20% of the betting profits, whereas casinos and lotteries pay 4% and 5.5% respectively,” says Dr Hutchison.
“Our racing industry’s sliding down hill while this Government makes it more difficult, with high company taxes and onerous OSH laws.
“At Melbourne Cups of the future, New Zealand may
struggle to compete if the current trend is not reversed,”
says Dr Hutchison.
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