Thoroughbred Breeders
Australia (TBA) is pleased to announce it will contribute $200,000 to fund
research and development for the breeding industry.
The money will be placed into a newly created thoroughbred R&D levy scheme
and will be matched by the federal government when spent. By making the
substantial donation, TBA will enable research projects to begin early in the
coming financial year.
"This contribution will have an immediate impact as it means research can begin
on issues that breeders know are important. The way the levy is collected, if
we were to wait on the mandatory contributions it is unlikely we'd be able to
start projects until 2018," said TBA president Basil Nolan.
Under the new levy, which was included in the recent federal budget and will be
in place in the new financial year, breeders will pay $10 per mare and $10 per
stallion return. This will raise about $400,000 per year that will be put in
the fund for R&D, with the federal government then matching every industry
dollar.
It is expected with voluntary contributions, such as the money from TBA,
some $1 million could be available to spend each year on research that
benefits the thoroughbred breeding industry.
TBA is in the process of selecting the board that will oversee the spending of
the funds and there will be a strong representation of breeders to ensure the
money goes towards projects that return real benefits to the breeding industry.
Tom Reilly, the chief executive of TBA, said: "Research into disease control,
fertility and many other valuable areas is crucial to the long term health of
our industry.
"The board had discussed previously funding projects but, as we made progress
with establishing a government matched levy, it made sense to hold off so that
the money TBA contributed to research was effectively doubled.
"I'd like to thank Racing Australia for their support as it is through the
Australian Stud Book that the levy will be collected and they have been working
hard to ensure this is possible from a technology front."
Such levy schemes are common in agriculture with many areas of primary
production; such as cotton, beef and grains, all receiving dollar for dollar
funding from the government in this way.
Among the areas likely to be the focus of research are the prevention and
management of exotic and indigenous diseases, improving the conception rates of
mares and stallions and efforts to reduce foetal loss caused by contagious
diseases.
Deputy Prime Minister and Agriculture Minister Barnaby Joyce, said the levy
will produce a huge return for breeders.
"This levy will provide industry with greater certainty about available funding
in future years and enable forward-year planning to deliver priority R&D
for the benefit of the whole industry," he said.
"The Australian Bureau of Agricultural and Resource Economics and Sciences
estimates a $12 return for industry from every $1 invested, which is good for
industry, and good for those at the farm gate."
TBA Release