Page 2308 - Week 07 - Wednesday, 3 August 2022
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industry. At the moment, the point of consumption tax goes to general revenue, and decisions about support for the racing industry are made in the budget process. The Canberra Liberals today are simply proposing that a percentage cut of taxpayer money be given, with no clear expectations in return and no time frame for review. That is not something that the government can agree with, and our measured approach is laid out directly in the MOU.
More relevant than the total income from gambling taxes is information about the economic benefits—in particular, local jobs supported by the local industry. That is really important for future decision-making and that is why the MOU requires each supported club to fund two economic impact reports in the first year, and then again in the fourth year of the MOU. Each club will be required to report on a wide range of indicators, including crowd attendance—including the proportion of ACT residents, interstate and international visitors who visited and stayed in Canberra to attend race meets; hours worked and wages paid annually by the industry; and estimates of the value of services provided and the value of goods purchased in connection with the industry. The ongoing reporting against KPIs and the economic benefits of the industry that will be developed are an important part of the MOU.
The amendment that I will be moving suggests that we will work with the industry over the medium term to look at how we can ensure the ongoing sustainability of the racing clubs. Assisting the racing clubs in Canberra to develop a diversified and sustainable revenue stream is a priority. By working together, we can identify options in the future for transitioning the industry to be fully self-sustaining while offering even greater benefits to the community. The funding provided to the racing clubs contributes to the development of a well-managed, well-regulated and sustainable racing industry that works to ensure the ongoing welfare of its horses. Decisions about funding are always a balance, and we need to make those decisions in the context of our overall budget priorities.
A decision to fund the MOU represents a judgement that there are local jobs in this industry and benefits to Canberra that are worth protecting, but that does not mean that boosting funding well beyond historic levels or tying it to whether or not there is a bigger share of gambling taxes is sensible. Nor does it mean that withdrawing funding entirely for other budget priorities, as the ACT Greens are calling on the government to do, is the right choice.
The government will continue to take a measured approach to this issue. Our MOU reflects a practical, transparent way to protect local jobs while ensuring that public money provides tangible benefits, including for the animals who are involved in the industry. We will continue to engage with the racing industry and make balanced decisions about the support that our government offers to secure benefits for the whole community. I move the amendment circulated in my name:
Omit all text after “That this Assembly”, substitute:
“(1) notes:
(a) a point of consumption tax (POCT) is imposed on online gambling in all Australian jurisdictions except the Northern Territory;
(b) the POCT generated $17 million in the last financial year in the ACT;
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