A letter from Motorsport Australia President Andrew Fraser.
Motorsport Australia is certainly not immune to these challenges and cost pressures. Added to this is the reality of ongoing and significant increases in our insurance costs over recent years. To meet the challenge of these rising costs, Motorsport Australia’s Board has brought forward a 15 per cent increase to our 2024 fees and charges as of 1 October 2023.
This increase will apply to all products, with limited exceptions, most notably to our Junior Licence which we will hold at its current price.
We know this won’t be news you want to hear, and it was not a decision we wanted to make. However, when you consider the significant increases in insurance, as well as our general operating costs, we are left with little choice but to pass these costs on, in part, across the sport.
Put simply, the cost of our insurance has risen almost 60 per cent since 2019. During this time Motorsport Australia has been working to absorb these significant increases, particularly during the COVID-19 pandemic where we held our fees steady and offered free licence extensions to the majority of our licence holders in what was a very difficult time for everyone.
Regards,
Andrew Fraser
President – Motorsport Australia