8. Question No. 8—RacingTERISA NGOBI (Labour—Ōtaki) to the Minister for RacingQuestion No. 8—Racing8. TERISA NGOBI (Labour—Ōtaki) to the Minister for Racing: What recent reports has he seen on the New Zealand racing industry?Hon KIERAN McANULTY (Minister for Racing): Our racing industry is on the charge. This Australian season just gone Kiwi-bred and -trained horses made up 8 percent of group 1 starters yet won 30 percent of races. That's just one statistic to show the quality of the New Zealand racing industry. Racing is worth $1.6 billion to our economy and that contribution is growing. This positive outlook is confirmed in the New Zealand Thoroughbred Racing (NZTR) statement of intent which notes Off the back of the recent approval of the TAB New Zealand-Entain strategic partnering arrangement our industry has been given an opportunity for significant revitalisation. We now see the dawn of a new era for New Zealand racing laying a platform for improved professionalism and standards right across the board". The statement goes on to say "We are extremely heartened by the strategic arrangement which has given NZTR the ability to plan with certainty for the next five years and prioritise key areas of the business to promote growth." I note this statement was signed off by Cameron George a person who knows a thing or two about revitalisation. Up the Wahs!Terisa Ngobi: What feedback has the Minister heard on the TAB-Entain strategic partnership? Hon KIERAN McANULTY: The leadership of the New Zealand racing codes have told me that the partnership is a game-changer. In my role as Minister I had to be satisfied the partnership would be to the benefit of New Zealand racing before I could sign it off. The feedback I received on this has been universal. Industry leaders are reporting that stakes are up funding for world-class harm minimisation is up and payments to the racing and sporting codes are also up. Terisa Ngobi: What feedback has the Minister heard on restoring the TAB legislative monopoly?Hon KIERAN McANULTY: Parliament was clear some decades ago that TAB should be the sole provider of racing and sports betting in New Zealand. This was done to ensure the New Zealand racing industry one of the smallest in the world would continue to be one of the best performing. At the time those regulations were passed the explosion of unregulated offshore online competitors was not envisioned. With the Government's agreement in principle to restore TAB's monopoly the industry have reported that this further improves the certainty of funding that goes to racing and sport. This is securing the future for those that love racing and sport and those that work in the industry. This is another part of this Government's plan to bolster our emerging and high-performing export industry.Terisa Ngobi: How many people are employed in the New Zealand racing industry and what does this mean for them?Hon KIERAN McANULTY: There are estimated to be around 15000 people directly employed in racing. Providing certainty over how the industry is funded makes a career in racing an attractive prospect. In particular racing provides an array of employment opportunities in regional New Zealand. I'm advised that this certainty of funding gives the industry confidence to further develop apprenticeship and training programmes and to take more young people on."