Thoroughbred Breeders Australia (TBA) announced on Wednesday the new thoroughbred research and development levy has been officially confirmed by the Federal Government.
Under the levy, the Government has pledged up to $400,000 annually to be invested in areas such as disease control, welfare, reproduction and injury prevention.
These funds, which will match the breeding industry’s own contribution, will generate close to $2.40 million over the next three years for research and development projects vital to the sustainable growth and development of the Australian thoroughbred industry.
The announcement comes after the extensive advocacy of the Federal Government by Thoroughbred Breeders Australia and was welcomed by TBA chief executive Tom Reilly.
“The TBA has worked hard on behalf of the thoroughbred industry to ensure there is proper recognition from the federal government for breeders,” Reilly said.
“Thoroughbred breeding generates billions of dollars of economic activity each year in Australia and our horses are recognised around the world for their ability and quality. This levy will play an important role in maintaining our reputation as world leaders and protecting our industry in the years to come.
“Today’s announcement is a great achievement for the TBA and we are looking forward to working with the Government on projects that will make a significant difference to breeders across the country.”
Deputy Prime Minister and Minister for Agriculture and Water Resources Barnaby Joyce (pictured) said the Federal Government was delivering on its election commitment to support the thoroughbred breeding industry’s request to establish a levy.
“These projects will seek to improve the safety of those who work in the industry and the welfare of horses, including building resilience in horses in work and training, and improved breeding outcomes for stronger foals,” Joyce said.
The Government will work with TBA to implement the new levy by 1 July 2017.
For more information, contact Tom Reilly on 0423 146 334.