LETTER TO THE EDITOR – WorkCover premiums threaten horse racing

Life continues to get harder under Labor, with rising WorkCover premiums now looming as a serious threat to Victoria’s horse racing industry.

This week in Parliament, I called on the Minister for Racing and the Minister for Finance to help protect stud farms from these outrageous increases.

The horse industry’s rate for WorkCover contributions has surged by an astounding 65 percent in the past year – with absolutely no warning and after stud service fees were already set for the season.

It is unacceptable that local breeders are being put at financial risk due to the Andrews Labor Government’s mishandling of the WorkCover system.

Having spoken with several thoroughbred stud breeders, farmers and equine services providers, it is clear that this is suffocating the growth of the industry – an industry that contributes almost $5 billion a year to the economy and helps sustain almost 35,000 jobs across Victoria.

The current broken WorkCover system means less jobs, increased prices, and further pressure on the ongoing cost-of-living crisis.