Start of a new year and the Bank of Corporate Welfare is open

It’s the start of a new year and the Bank of Corporate Welfare has opened and already chucking vast amounts of cash around for an industry awash for cash:

Deputy Prime Minister Winston Peters has opened the New Zealand National Yearling Sale at Karaka with a promise of an all-weather racing track in New Zealand.

Mr Peters hit down speculation of a major announcement for the racing industry but traversed a number of issues of interest to it.

He outlined intentions for the government to work with Treasury and the Inland Revenue Department to clarify the rules and regulations around bloodstock write-downs and taxation issues, saying agency interpretations were hampering Industry efforts.

He also reiterated the need for changes in industry structures to ensure cost reductions were passed on to horse owners and punters through increased prizemoney.

Many race meetings have been cancelled in recent times after rain and other weather events affected tracks.

Mr Peters said work was under way to introduce one or more artificial racing surfaces but he didn’t say where.

Industry observers say Waikato is the most likely location.

More details will be available once the government finalised its first budget in May.


We might have changed government, but all we did was change the management not the policy with regard to corporate welfare.

I don’t know why anyone would be surprised, one thing about Winston, once bought he stays bought. It’s just that National don’t want to pay, and you have to pay to play.



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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

To read Cam’s previous articles click on his name in blue.