The Eagle Has Landed
"22 Jul 2010 Estimates Committee G—Tourism and Fair Trading (Proof) 45
CHAIR: Thank you, Minister. The time for government questions has expired. The committee will
now move into questions relating to the Office of Liquor, Gaming and Racing. We will take a minute to
Mr LAWLOR: Thank you.
Mr STEVENS: Minister, I refer you to page 2-8 of the SDS relating to the amalgamation of the
three racing control bodies, and I ask: how much are the chairman and directors of the new racing
control body, Racing Queensland, being paid annually?
Mr LAWLOR: I thank the member for the question. The situation regarding the remuneration of
the directors of the company is a matter for the chief executive. That is done on a recommendation of a
consultant. It is not the prerogative, as I think I explained when the legislation went through, of the
minister to set the remuneration. The amount of remuneration, as I said, is determined by an
independent consultant appointed by Racing Queensland and must be approved by the chief executive
officer of the department. The amounts approved are fixed for each period of two years. The company
cannot approve directors’ remuneration in excess of those levels recommended by the independent
consultant and approved by the chief executive of the Queensland government department responsible
for racing.The remuneration levels recommended by the specialist remuneration consultancy firm Godfrey
Remuneration Group and approved by the director-general of the Department of Employment,
Economic Development and Innovation are the chair on $135,000, the deputy chair on $90,000 and
non-executive director on $60,000. The report by the Godfrey Remuneration Group recommended
Racing Queensland’s non-executive director remuneration policy be pitched towards the 50th percentile
of market practices for commercial organisations that are broadly similar to Racing Queensland in terms
of financial dimensions. All fees are inclusive of superannuation contributions.
The process for the approval of a director’s remuneration is the same process used for the
approval of remuneration of directors of the former three control bodies. The chairs of Racing New
South Wales and Racing Victoria are currently paid $126,787 and $107,910 respectively. However,
whilst the thoroughbred racing industries in these states are larger than Queensland’s, the responsibility
for the strategic direction and overseeing the operations and performance of a company managing all
three codes of racing would be greater and more complex than applies to one code of racing. The
approved total board fees for Racing Queensland amount to $525,000 compared to a total of $515,900
for all three former control boards, a rise of 1.7 per cent. This can be compared to Racing Victoria—
CHAIR: Thank you, Minister."
The salary component for the 7 Directors is $525,000.