A closer look at Treasurer Michael Ferguson's cuts-and-debt budget reveals that the beloved V8 Supercars at Symmons Plains is set for the scrapheap under the minority Liberal Government.
The Budget shows that Output 5.4 - Events and Hospitality funding is dropping from $26,987,000 in 2023-24 to $6,649,000 in 2026-27 (Budget Paper No. 2, p257)
Footnote 7 (p259) attributes the funding drop to the following:
- The decrease in Events and Hospitality from 2024-25 reflects the funding profile of Budget initiatives including Events Support and Attraction Fund, Securing Tasmania's Iconic Events, Collingwood Magpies Netball Team in Tasmania and V8 Supercars.
The V8 Supercars has become a signature event on the northern Tasmanian calendar, and in addition to delighting motorsport fans - brings an enormous tourism boost to Launceston and the north.
Despite this, it seems the event will join the list of many casualties of Premier Jeremy Rockliff's obsession with building a stadium above all else.
It's little wonder he didn't acknowledge the cuts to V8s when asked about them in Question Time today.
After ten years in office, it's clear this Liberal minority government has lost sight of the right priorities for Tasmania.
Shane Broad MP
Shadow Treasurer
