The release this week of a report into the economic contribution of the Tasmanian racing industry ( Read for yourself, here ) has prompted considerable debate on ABC radio over the last few days about the value for money for taxpayers in supporting the Racing Industry and the controversial 20 year funding deed signed by the Tasmanian Government in 2009 guaranteeing TasRacing an annual grant of $27 million indexed for the next two decades.
With representatives of the Racing Industry saying they will need further government support to remain viable, it’s worth considering the relative return to the State of taxpayer support for racing compared to another industry receiving direct funding support from the government, tourism.
The graph (above) represents a comparison of the annual appropriations and forward estimates of government funding to Tourism Tasmania compared to the total government support to the Racing Industry.
The table (below) shows the comparable economic contribution of both industries, according to TasRacing and Tourism Tasmania’s own websites.
You be the judge.
Milton Freeman* is known to the Editor.