The establishment of the advisory panel follows the Deputy Prime Minister and Minister for Agriculture and Water Resources, Barnaby Joyce’s announcement of a new levy to provide the thoroughbred breeding industry with greater certainty about future R&D funding.
The levy, to be managed and invested by Rural Industries Research and Development Corporation (RIRDC), is expected to collect $400,000 from the industry each year. The Coalition Government will match expenditure by RIRDC on eligible thoroughbred R&D dollar-for-dollar.
The levy will be set at a rate of $10 per mare covered per season, paid by the stallion owner and $10 per mare returned per season, paid by the broodmare owner. Additional voluntary contributions will compliment levies collected and be available for research investment.
“This forum is an opportunity for industry representatives to present to the Thoroughbred Advisory Panel on the capacity each of their organisation holds in equine research,” said RIRDC Program Manager, Research and Innovation, Michael Beer.
Stud farms across Australia will benefit from the new industry-backed R&D levy, aimed at improving thoroughbred breeding while combatting diseases and parasites in horses.