Page 4496 - Week 14 - Thursday, 1 December 1994
Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . . PDF . . . .
have indicated that they will, to target a particular series or type of meeting to provide for a better return to the punter and therefore to encourage increased turnover on those types of races or meetings, we in the ACT, to remain linked, would need to be able to follow suit so that our dividend remained the same as the dividend used by Tabcorp. If that does not happen, there is a simple response. The pooling arrangement will not operate.
Mr De Domenico and his leader, without prescription - although one could be forgiven for thinking they had already achieved what they have sought to do in the last couple of days - indicated that one of the greatest catastrophes ever to beset ACTTAB was a two-week period when they were not linked to a superpool. What I am saying is that, in order to improve the opportunity for ACTTAB to gain and to retain and to grow and expand, we need to ensure that those pooling arrangements continue to operate. That is why the board of ACTTAB has sought my concurrence to the legislation before the house, that is, to ensure that the dividends remain consistent between ACTTAB and Tabcorp. As I have said, failure to do so will mean that the linking arrangements cannot occur on those particular types and classes of races.
This Bill provides that, where there is an increased return to the punter, which means a reduced take to the TAB, the reduction is equally shared amongst the beneficiaries of the operation of ACTTAB. Tabcorp at this stage have indicated that there is a range of meetings they would target. That range of meetings would include, as an example, the type of meeting Mr De Domenico has outlined in his comments. It would be my intention - this is specifically for Ms Szuty - upon the signing of such an instrument, to make that instrument available to members of the Assembly, even though the Assembly may not be sitting. As far as Assembly members are concerned, they would not need to wait until a formal tabling of such an instrument before being made aware that an occurrence provided for under this amendment had taken place.
Mr De Domenico: What has that to do with it? How does that affect the disallowance?
MR LAMONT: As I think is clearly demonstrated, where there may be a concern raised in such circumstances by a member of the Assembly, I will take account of that, as I have in other areas. It is a simple position that it is structured as it is to ensure that we are able to maintain the linking arrangements. Mr De Domenico's amendment will not change that position - except for one point, and that is that the distribution in real terms, in dollar terms, not only will remain the same as it is with the current distribution for the racing clubs but will also increase if additional business is attracted.
What Mr De Domenico is saying, on the one hand, is that there is to be no effect upon the racing clubs in terms of sharing the distribution and the cut to allow for the link to continue. If the link did not continue for those race meetings, the distribution to the club would be zero. You and your friend made great play during August of saying, "Look at this. You have an ACT pool alone of $50 or $60. What a nonsense!". That is the situation, Ms Szuty, that would apply to these race meetings if the linking did not occur.
Mr De Domenico: That is, with respect, Minister, nonsense.
MR LAMONT: You again show your ignorance.
Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . . PDF . . . .