The minority Liberal government has cut $180 million in funding that was in previous budgets to ensure “time-limited programs” like the V8 Supercars could continue without blowing a hole in the budget.
Minister for Hospitality and Events Minister Street has confirmed today there is no funding for the V8 Supercars after 2024 – and there is no longer a provision in the budget to sign a new agreement.
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
The Government can’t have it both ways. They will either have to cut funding for events like the V8 Supercars after 2024 or the Liberals’ promised return to surplus is busted.
It’s up to Liberals to explain which one it is.
Shane Broad MP
Shadow Treasurer