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New Zealand Deputy Prime Minister and Minister for Racing Winston Peters has advised that two new pieces of legislation will be introduced this year to revitalise the domestic racing industry.

The New Zealand Cabinet this week considered its response to the ‘Messara Review of the Racing Industry’ as well as advice from the Ministerial Advisory Committee (MAC) on Racing.

Commenting on these deliberations, Deputy Prime Minister Peters advised “the New Zealand racing industry is in a state of serious decline. The Coalition Government supports the overall intent of the Messara Report and is committed to reforms. We know we have the grass, the race animals, and the people to help the industry achieve its potential.

“As a result, Cabinet has agreed to a stepped approach with the introduction of two Bills to amend the Racing Act 2003.”

The first Bill, due to be enacted by 1st July 2019, will put into immediate effect a transitional governance arrangement. This Bill proposes the New Zealand Racing Board (NZRB) be reconstituted as the Racing Industry Transitional Authority (RITA) to drive the transition of the industry.

This Bill will also bring some financial relief for the industry by making offshore betting operators contribute to domestic racing and sports codes from the bets they take from New Zealanders.

Deputy Prime Minister Peters commented “it is essential to have this transitional governance in place. RITA will have a legislative mandate that encompasses change management as well as the current business-as-usual functions and powers of the NZRB.

“As a result of RITA’s work the government anticipates a second racing amendment Bill to proceed later in 2019. It will implement the remaining reforms including post-transition governance.”

Released in August last year, the Messara Review of the New Zealand Racing Industry confirmed the racing industry is in serious decline, making 17 major recommendations for its reform.

The racing industry contributed $1.6 billion to the New Zealand economy in 2016/17.

The Cabinet papers are being proactively released as well as the MAC interim report and can be viewed at www.dia.govt.nz/racing-review

Image: The statue of famed New Zealand galloper Phar Lap at Timaru Racecourse.

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