The ABC are reporting on a draft they’ve seen from the Independent Competition and Regulatory Commission into the $7 million a year the ACT Goverment is paying to keep the racing industry happy and healthy in the ACT.
In this year’s budget the ACT Government stepped in, funding the industry $7 million a year for four years.
But in a draft report on the industry, the ICRC found the industry is not contributing enough to the ACT economy to warrant ongoing funding.
It has recommended the four-year period be seen as a transitional stage, allowing the industry to restructure and become more self-reliant.
Just think how many apartments they could squeeze onto Thoroughbred Park!
UPDATE: The draft report is now online.