Labor government would halve NSW racing tax

Labor leader Luke Foley has said he will halve taxes on racing bets in the Australian state of New South Wales should he win elections in March, according to media reports.
The tax would go to $1.28 from $3.22 for every $100 wagered, bringing NSW in line with the state of Victoria.
Foley said the cuts would result in about $100 million in lost revenue for the state, but would be offset by generating about 2000 new jobs in the racing industry.
The cuts would come into force from 2016.
Premier Mike Baird has said he will consider a possible gambling tax cut in the June budget, the reports said.