Australian Greens: Greens push to double gambling tax and prevent racing industry from making a cent

The Victorian Greens have launched a plan to double the state’s online gambling tax and prevent the racing industry from getting a cent of it.

The plan would see the point of consumption wagering and betting tax (POCT) increased to 20 per cent while cancelling the Victorian Racing Industry Fund.

The Victorian racing industry currently receives 35 per cent of POCT revenue through the Victorian Racing Industry (VRI) payment. Under the Greens’ plan this would be reduced to zero.

An independent Parliamentary Budget Office costing has found that the plan would raise $1.4 billion dollars over the forward estimates or $5.1 billion over the next decade.

Leader of the Victorian Greens, Samantha Ratnam, said for too long both Labor and the Liberals had helped prop up the already profitable and harmful racing industry with public money through the Victorian Racing Industry Fund.

She said this meant the industry banked millions each Spring Racing Carnival while Victorians suffered major gambling losses and horses were subjected to inhumane animal cruelty.

For decades the industry has received special treatment – made clear in recent weeks with the Flemington Racecourse flood wall decision – and it is time communities were put first.

With the Melbourne Cup around the corner the Greens want to see bold gambling reform so that the billions that would normally go to the harmful racing industry could instead be invested in things for the public good like housing, health and education. 

Quotes attributable to Leader of the Victorian Greens, Samantha Ratnam MLC:  

“How much longer will the major parties continue to increase the profits of the gambling and racing industry?

“Despite the ongoing and lasting harm the industry causes, the Victorian Labor Government seems happy to continue to prop it up with public money.

“If we doubled the gambling tax and prevented the revenue from going to the racing industry, we could invest that money in things that actually help Victorians.

“Voters are tired of the major parties and their vested interests. They want MPs who will put communities first and not their racing industry mates.

“Under the Greens’ plan the state would raise billions over the next decade that could be invested in things like affordable housing, our hospital system, and making public education genuinely free. It’s a no-brainer.”