In front of an audience including industry heavyweights such as Racing Victoria Chairman Graham Duff, its Chief Executive, Neville Fielke, Harness Racing Victoria Chairman Neil Busse and head of TabCorp's wagering division Michael Piggott, Hulls highlighted the progress made by Victorian racing under the Bracks government.

Describing thoroughbred racing as having been run by a "Flemington based mens club for 130 years" prior to Labor taking office, Hulls claimed that the previous Liberal government was on the verge of appointing a Racing Commission. Under his ministry, Racing Victoria has undergone its own reforms in terms of industry governance, but Hulls believes the process is not yet complete.

In comments clearly directed at the Racing Victoria Board, Hulls pointed out that it only had a couple of months to implement his government's preferred structure, which would rid the Board of club based representation and replace it with a body including more women and younger people.

Clearly passionate about racing, Hulls described racing as "the most enjoyable of my three portfolios". Claiming to be the only Racing Minister in Australia with his own set of silks, Hulls reminisced about his upbringing in a family where "my father raced slow horses, one grandfather was a mad keen punter and the other was an SP bookie".

Having this background it is perhaps not surprising that Hulls takes credit for what he sees as a dramatic turnaround in the fortunes of Victoria's bookmakers.

"Three years ago when we took office, bookies were going out the back door. Now we are seeing new bookmakers starting up and the numbers are growing again". He went on to say " in spite of the predictions of doom when we implemented reforms to help bookmakers, turnover of both TABCorp and bookmakers has increased".

In response to a question from the floorasking about "his plans for the Melton Harness Racing Centre of Excellence", Hulls was quick to point out that "this is not my plan - its a Harness Industry plan". He made it clear that he regarded the government's role as being to facilitate industry plans where possible, but that the racing industry had to take responsibility for its own decisions.

Hulls is proud of the fact that country people will have a greater role in racing industry decision making across all three codes as a result of his government's reforms.

"For the first time, country racing has a real say in the way racing is run".

Another initiative highlighted by Hulls is Australia's first ever study into the welfare of retired jockeys, which has led to an industry taskforce to work out ways in which jockeys can be better provided for in their retirement.

A comprehensive survey of the Victorian thoroughbred breeding industry conducted by Thoroughbred Breeders Victoria and funded by government is also high on Hulls priority list.

Looking to the future, Hulls stated that "he never saw himself as having a day to day role in running racing". He went on to say that "government has to oversight the industry on behalf of the community".

Clearly advocating a self governing role for the industry, Hulls nevertheless warned that "we do expect racing industry bodies to consult with us".

He believes that the future for the industry relies on "co-operation and collaboration". Citing the recent tri-code (thoroughbred racing, harness racing and greyhounds) meeting at Cranbourne, Hulls believes there are tremendous opportunities for the industry as an entertainment medium in competition for the leisure dollar.

Reiterating his desire to see more women and young people in decision making roles, Hulls concluded his speech by emphasising the importance of racing to Victoria. "Racing is crucial to the government of this state" he said.