Jane Howlett,Minister for Racing
The Tasmanian Liberal Government continues to support the Tasmanian racing industry.
In November, the Government announced that a proposed code funding increase would be brought forward by six months.
The decision to increase code funding by 4.3 per cent was possible given the strong financial performance of Tasracing in the 2020-21 financial year.
Today I am pleased to advise that following industry consultation, these stakes increases took effect from 1 January 2022.
The Harness code has seen increases to base stakes money at secondary meetings, the introduction of a new Tasbred series and increases to selected feature events, like the Tasmanian Cup and Easter Cup, which will now both carry prizemoney of $100,000.
The Thoroughbred code will increase base stakes across all races, including Cup Day races increasing from $23,000 to $27,000 and a number of listed races will be increased from $100,000 to $125,000.
The Greyhound code will see all races, excluding Group Race Finals, increased by $140.
The Tasmanian racing industry is critical for the State, generating close to $185 million in value-added contribution to the Tasmanian economy.
The Tasmanian Liberal Government remains the strongest supporter of the racing industry which involves almost 6,000 people as employees, participants or volunteers, with nearly two thirds of these people based in regional or rural communities.
I look forward to being in attendance at the 2022 Labrokes Devonport Cup today.
