Mr MITCHELL - 1998-04-22
This morning, a constituent asked me about speculation concerning the sale of the TAB in the Territory. What is happening in that regard?
ANSWER
Madam Speaker, I acknowledge that there has been some speculation on this issue. I can confirm that Cabinet has approved in principle the sale of the TAB. Today is day one in the next phase of consultation between the government and the industry, not only in relation to the TAB but also in relation to the entire future of the industry. It has been a consultation process that, I believe, has been productive and fruitful.
I refute recent reports in the media that deals have been done already. I state categorically that that is not the case. It is totally inaccurate. The reality is that we will start looking at options today. We have not approached anyone and, over the last couple of years, we have had only informal approaches in the way of normal discussions that occur between interested parties.
Mr Stirling: Send for Otto. It is a job for Otto Alder.
Mr ADAMSON: We shall see. While we are looking at the prospect of the sale of the TAB, we have not entered into any discussions whatsoever.
I believe the Northern Territory TAB has served Territorians well until now. There is no doubt about that. It has contributed greatly, not only to the revenue of government but also to the future viability of the racing industry. We will have to ensure that that continues, whatever the final result is in respect of the TAB. We will look at that very closely and will continue that consultation process. We are getting a far better deal and a far better product with the lottery now that it has been placed in private hands. That is the kind of concept that we and other governments have looked at in the past. We have studied this closely. Treasury
Page 183
commissioned ABN-AMRO to examine the situation. That was touched on by the member for Nhulunbuy. Various select committees have looked at this in the past. There is no doubt that there are some great advantages to be gained. However, it will not be sold at just any price. We must obtain a good deal for the government and the industry. I simply place on record at this stage that we can ...
Ms Martin: Can we have some details?
Mr ADAMSON: We are not announcing that we will be selling it tomorrow. We will sit down with the industry to discuss things. That is all we are doing today. Nothing is set in concrete. Nothing has been locked in place.
Ms Martin: It is an important move.
Mr ADAMSON: It is an important move. Any further steps will be taken in consultation with interested parties. We have said that all along.
Ms Martin: Let's find out today what your plans are at this stage.
Mr ADAMSON: That is basically it, at this stage. We will continue the dialogue with the Turf Club and other interested parties. We are saying simply that the government is looking at taking this next step and it will do that in consultation. We will check what we need to do in respect of tax rates. We will discuss what we need to do to ensure that a stream of revenue continues for the industry. None of those things is set in place at the moment. We are happy to have that dialogue. We will keep everyone in the loop on that. All we are saying today is that this is the path we believe we should be heading down. We will do it in consultation with the community and the interested groups.
Madam SPEAKER: I remind members of the opposition that answers to questions may be short if there are few interjections. The more they interject, the longer the answers become. I suggest they bear that in mind.
Page 184
ANSWER
Madam Speaker, I acknowledge that there has been some speculation on this issue. I can confirm that Cabinet has approved in principle the sale of the TAB. Today is day one in the next phase of consultation between the government and the industry, not only in relation to the TAB but also in relation to the entire future of the industry. It has been a consultation process that, I believe, has been productive and fruitful.
I refute recent reports in the media that deals have been done already. I state categorically that that is not the case. It is totally inaccurate. The reality is that we will start looking at options today. We have not approached anyone and, over the last couple of years, we have had only informal approaches in the way of normal discussions that occur between interested parties.
Mr Stirling: Send for Otto. It is a job for Otto Alder.
Mr ADAMSON: We shall see. While we are looking at the prospect of the sale of the TAB, we have not entered into any discussions whatsoever.
I believe the Northern Territory TAB has served Territorians well until now. There is no doubt about that. It has contributed greatly, not only to the revenue of government but also to the future viability of the racing industry. We will have to ensure that that continues, whatever the final result is in respect of the TAB. We will look at that very closely and will continue that consultation process. We are getting a far better deal and a far better product with the lottery now that it has been placed in private hands. That is the kind of concept that we and other governments have looked at in the past. We have studied this closely. Treasury
Page 183
commissioned ABN-AMRO to examine the situation. That was touched on by the member for Nhulunbuy. Various select committees have looked at this in the past. There is no doubt that there are some great advantages to be gained. However, it will not be sold at just any price. We must obtain a good deal for the government and the industry. I simply place on record at this stage that we can ...
Ms Martin: Can we have some details?
Mr ADAMSON: We are not announcing that we will be selling it tomorrow. We will sit down with the industry to discuss things. That is all we are doing today. Nothing is set in concrete. Nothing has been locked in place.
Ms Martin: It is an important move.
Mr ADAMSON: It is an important move. Any further steps will be taken in consultation with interested parties. We have said that all along.
Ms Martin: Let's find out today what your plans are at this stage.
Mr ADAMSON: That is basically it, at this stage. We will continue the dialogue with the Turf Club and other interested parties. We are saying simply that the government is looking at taking this next step and it will do that in consultation. We will check what we need to do in respect of tax rates. We will discuss what we need to do to ensure that a stream of revenue continues for the industry. None of those things is set in place at the moment. We are happy to have that dialogue. We will keep everyone in the loop on that. All we are saying today is that this is the path we believe we should be heading down. We will do it in consultation with the community and the interested groups.
Madam SPEAKER: I remind members of the opposition that answers to questions may be short if there are few interjections. The more they interject, the longer the answers become. I suggest they bear that in mind.
Page 184
Last updated: 09 Aug 2016