- Sale of the TAB will help secure the long-term future of the local racing industry
- Process has involved extensive industry and stakeholder consultation
- McGowan Government to allocate 65 per cent of proceeds of the sale to a new women's hospital in Perth
The McGowan Government has today introduced a Bill into State Parliament that will enable the sale of the Western Australian TAB.
The Bill includes a historic reform package for the Western Australian racing industry. In addition to being significant beneficiaries of the point of consumption tax, the sale of the TAB will ensure the industry receives the same operational funding levels, as well as 35 per cent of sale proceeds set aside for a dedicated racing infrastructure fund.
The introduction of the Bill follows extensive and constructive consultation between the Government and industry, including metropolitan and regional forums, and takes into consideration 107 written submissions in response to a discussion paper released last year.
Once the Bill is passed, the Government will commence the sale process.
Comments attributed to Treasurer Ben Wyatt:
"The long consultation process was important to resolve an issue which bedevilled the previous government. A lack of industry support cruelled the previous government's efforts and the McGowan Government was determined not to make the same mistakes.
"All stakeholders recognise the TAB must be sold. This is the right course of action to help ensure its future viability, and with it the future of the local industry.
"The decision by the McGowan Government to put 65 per cent of the sale towards the new women's hospital also provides the WA public with a clear understanding of where the proceeds of the sale of the State asset will go."
Comments attributed to Racing and Gaming Minister Paul Papalia:
"The WA racing community widely accepts that selling the TAB is in the best interest of the entire industry across the State, from Perth and throughout regional WA.
"In conjunction with the industry receiving 30 per cent of the total revenue collected from the point of consumption tax, it will also benefit from 35 per cent of the net proceeds of the sale to be put towards a dedicated racing infrastructure fund.
"This will ensure the sustainability and prosperity of the industry into the future."
Treasurer's office - 6552 5900
Racing and Gaming Minister's office - 6552 5600