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Unlikely Bed Fellows Horse Racing and the New Zealand National Party.
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2005-06-20
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National Racing Spokesperson in New Zealand, Lindsay Tisch, announced a possible merger with the National Party upon their election. If elected they have reported to offer racing, paid by casinos, a financial reward of $25 million. The move is expected since the Racing Fair Tax Committee has been under pressure over racing issues.
Other five main political parties are expected to discuss their stance on the racing issue. As of this point the National Party has promised big tax concessions for horse breeders, a 100% write off for stallions in two years. This is a better allowance, since the current write off is only 25%.
The National Party sees that the racing industry is an agribusiness, a high participant in the New Zealand economy. This is an economy, which through employment has produced an export industry. Breeding and ownership, are included in part of that, the National Party understands that.
The decline in racing over the years has hurt the business that is where the government comes in. The have created policies that are good for the consumer, as well as the racing industry. There statutes have allowed enough growth, through their own status, and special legislation. The status hasn�t put the industry exactly where they would like to be, but have helped them maintain their traditional status. The future is up for debate, but at the moment, the National Party makes monetary promises, just to get the vote, and a foot in the door of the government.
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(By Sammy)
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