Racing: All-weather track but then details dry up

Winston Peters.

Winston Peters has promised the racing industry an all-weather racetrack - but where and when remains unclear.

The Deputy Prime Minister and Minister For Racing had industry participants on tenterhooks hoping for a massive announcement during his speech to launch the Karaka yearling sales last night.

But while Peters promised clearer tax advantages for owners who buy bloodstock and an all-weather track to help with the spate of race meeting cancellations, he said the industry would have to wait for the details.

"After nine years of the previous Government doing nothing for the racing industry we are going to change that but you won't be getting all those details today," said Peters.

"Racing should be returning $3 billion to the economy rather than $1.6 billion like it is now.

"It employs 42,000 people, a lot of them young people and Treasury needs to understand it not only has a significant economic impact but a social impact on New Zealand," Peters said.

"So we are going to make some positive changes."

Peters hinted at stakes increases and changes to the industry's betting arm the TAB, but without specifics.

He did however confirm he would be seeking money for at least one, maybe more, all-weather racetracks in the May budget.

"The cancellations of race meetings is costing the industry millions of dollars.

"And all-weather track can help by giving us options to hold those meetings."

The most likely region to get the first all-weather track would be the racing-strong Waikato, where Peters had extremely vocal backing pre-election from major racing industry players.

No mention was made of a similar all-weather track in the South Island while the closure of smaller tracks with failing facilities and racing surfaces was not mentioned.

The racing industry, hoping for a silver bullet to be fired, was largely underwhelmed.

But it was at least left with a sense Peters is serious about improving the industry.

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