Officials: Budget 18 racing tax breaks unjustified

BY ACT at 30 August, 2018


Government officials have slated Winston Peters’ Budget 18 tax breaks for the racing industry in advice released today by the Treasury.


Officials said: ‘Neither tax concessions nor subsidies seem justified… They would be desirable if these activities generated positive externalities (social benefits beyond the benefits captured by the direct participants). These do not apply in this case.’


“In other words, the racing industry will profit from the tax breaks without creating wider

NZ First now kings of corporate welfare

BY ACT at 23 August, 2018


“NZ First have taken over the National Party’s mantle as the kings of corporate welfare with its support of the horse racing industry”, says ACT Leader David Seymour.


Radio New Zealand this morning reported that millions from the NZ First Re-Election Fund – also known as the Provincial Growth Fund – would go to build new all-weather racing facilities. This comes after earlier revelations the industry would be given tax breaks by the