T.A.B. FINANCE
Sir, —The virtuous racing clubs and others have been raising hands and voices in protest—it would be a breach of agreement, we are told, were Parliament to pass Mr Holloway’s private bill for a redistribution of T.A.B. profits. They have not said one word, however, regarding an agreement that has been broken by the T.A.B. itself. At its inception, the T.A.8., with Government approval, took J per cent, from all totalisator investments. This, it was explained, was for establishment costs and would be retained for four years only. Over five years have passed and the T.A.B. is well and truly established and making large profits. Nothing, however, has been said regarding the return of this money to its rightful owners, the totalisatorinvesting public.—Yours, etc., ONLOOKER. June 15, 1956.
[This letter was referred to the chairman of the Totalisator Agency Board (Mr W. Claud Motion), who replied that he did not wish to make any comment.]
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Press, Volume XCIII, Issue 28002, 23 June 1956, Page 5
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157T.A.B. FINANCE Press, Volume XCIII, Issue 28002, 23 June 1956, Page 5
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