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Productivity Commission

It doesn’t surprise me to find myself amused by the reaction of Tabcorp’s Chief Executive to the findings of the Productivity Commission report in Australia, but somehow, despite everything, I still find myself astonished at the way some people believe that they have a right to protection from market forces that everyone else has to deal with as a way of life.

I’m not suggesting that everything in life should happen without regard to potential consequences, but to argue that the Productivity Commission’s report ‘shows a serious lack of understanding of these industries, both in Australia and around the world” is just arrogant and insulting.

I would say precisely the contrary is true: the report shows a complete understanding of the industries and the issues, and, shaking its head in bewilderment at the way in which those who are part of them believe that they should be able to maintain the status quo which has seen them spend many years in the sun, it suggests ways to allow more people to play.

Cyberhorse put it like this yesterday: “This clutch of multi-millionaires want a racing industry structured so that literally millions of little people – punters, low paid workers, small breeders and hobby owners, dutifully contribute to bloated service fees and artificially inflated bloodstock values. They have achieved this position over a long time by basically ignoring the Trade Practices Act and the Australian Constitution, arranging state laws and Rules of Racing to bolster their position.”

For the second time in a week, well said Bill Saunders.

Posted in Australia, Regulation.

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