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New Zealand Party Won't Match Tax Break

NEW ZEALAND – As reported by the New Zealand Herald: "Labour will not match National's promised enormous tax break to the racing industry.

"National leader Don Brash this week said his party would align racing with casinos, a move that would reduce betting tax and give the racing industry an extra $25 million a year.

"But at an industry meeting in Hamilton last night, Racing Minister Damien O'Connor said: 'I am happy to stand on Labour's record in racing. We are not going to get into a bidding war on tax breaks.'

"Mr O'Connor said that in the 2005-06 racing season, a record $81 million in stakes would be offered nationwide…"

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