R&D Levy Announced

The Australian bloodstock industry received a boost on Wednesday when it was announced that a new thoroughbred research and development levy was officially confirmed by the Coalition Government. Under the levy, the Government has pledged up to A$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 A$2.4 million over the next three years for research and development projects vital to the sustainable growth and development of the Australian thoroughbred industry. Thoroughbred Breeders Australia (TBA) were instrumental in lobbying for the levy to be introduced and their chief executive Tom Reilly said, “The TBA has worked hard on behalf of the thoroughbred industry to ensure there is proper recognition from the federal government for breeders. 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.” Reilly continued, “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.”