Increased prizemoney, improved job prospects, and infrastructure upgrades to bolster the racing industry will flow from renewed investment by the NSW Government.\u00a0\u00a0\u00a0
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Minister for Racing Kevin Anderson said approximately $260 million in additional funding over the next four years is being committed to the NSW racing industry as part of the 2022-23 State Budget.
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\u201cToday\u2019s announcement is yet another example of how the NSW Government is growing the economy. There are more than 30,000 people employed in the NSW thoroughbred racing industry, and this announcement will benefit every single one of them through the flow-on effects of increased prizemoney and infrastructure upgrades,\u201d Mr Anderson said.
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\u201cFrom Australia\u2019s leading tracks like Royal Randwick and Rosehill through to regional racing centres like Muswellbrook and the Braidwood Picnic Races, every trainer, strapper, owner and connection will reap the rewards of this funding.
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\u201cThis is particularly good news for our hardworking regional trainers as increased prizemoney and infrastructure upgrades means more funding to grow the industry in regional NSW.
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In July 2012 Racing NSW introduced the 1.5 per cent strappers\u2019 bonus, being the first State in Australia to do so. This bonus provides a significant reward for the industry\u2019s lowest paid workers, letting them share in the success of their stables.
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As part of today\u2019s announcement, Racing NSW will be increasing the strappers\u2019 bonus from 1.5 per cent to 2 per cent of prizemoney. This will see a total of $7 million in\u00a0 prizemoney allocated to\u00a0 strappers\u00a0 each year, providing a further incentive for trainers when recruiting staff.
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The Equine Welfare Fund share of prizemoney will also increase to 1.5 per cent, totalling $5.3 million per annum to care for, retrain and rehome NSW thoroughbred racehorses.
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\u201cThe benefits of this announcement will be felt right through the industry. In an Australian first, an additional share of prizemoney will be allocated for equine safety, strappers and stable staff,\u201d Mr Anderson said.
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\u201cThis is a win for the industry, a win for the animals, a win for punters, and a win for racegoers.\u201d
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Racing NSW Chairman Russell Balding AO said Racing NSW is committed to seeing the sector grow right across NSW.
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\u201cNSW country racing is the bedrock of our industry. It is important therefore that we ensure the ongoing viability of country racing and the sustainability of our country trainers,\u201d Mr Balding AO said.
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\u201cTotal prizemoney for Everest Day will now be a staggering $21.8 million dollars which far exceeds any other race meeting in Australia and cements Everest Day\u2019s place on the International Stage of premier racing.\u201d
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The funding will be made available after increasing the point of consumption tax (POCT) to 15 per cent for all corporate betting service providers as part of the 2022-23 State Budget.
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Prizemoney increases and changes in the distribution of prizemoney will come into effect from 1 September 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"
Increased prizemoney, improved job prospects, and infrastructure upgrades to bolster the racing industry will flow from renewed investment by the NSW Government.\u00a0\u00a0\u00a0\u00a0Minister for Racing Kevin Anderson said approximately $260 million in additional funding over the next four years is being committed to the NSW racing industry as part of the 2022-23 State Budget.\u00a0\u201cToday\u2019s announcement is … Continue reading “Racing to a better future”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-17659","post","type-post","status-publish","format-standard","hentry","category-nswnews"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/17659","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=17659"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/17659\/revisions"}],"predecessor-version":[{"id":17660,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/17659\/revisions\/17660"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=17659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=17659"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=17659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}