QLD: Small investors to get chance at QTAB says Beattie

AAP General News (Australia)
04-19-1999
QLD: Small investors to get chance at QTAB says Beattie

BRISBANE, April 19 AAP - Small investors would be given the chance to invest in a
privatised Queensland TAB, Premier Peter Beattie said today.

Despite thoroughbred racing industry reservations, Mr Beattie said the government would
push ahead with privatisation plans to be presented to Labor's state conference in June.

"We want ordinary Queenslanders to end up with a share of it," Mr Beattie told ABC Radio.

Privatisation of the TAB remains a hot issue, with some union leaders openly opposed to the
plan because of feared job losses.

QTAB is under pressure from the New South Wales and Victorian TABs which are privatised and
are said to be drawing business away from Queensland.

"There will be a float and clearly the mums and dads will have the opportunity to get
involved in it," Mr Beattie said.

"We want the Queensland TAB to remain in Queensland and be Queensland-owned and operated
out of Queensland," Mr Beattie said.

The thoroughbred racing industry has raised questions over the cash offer in the government
package, saying it was not indexed to inflation and would loose value over the years.

Mr Beattie said the greyhound and harness racing sections had accepted the government's
package.

"Two out of three codes think it's a fair deal," he said.

AAP TURF geb/it

KEYWORD: TAB QLD

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