Politicians partied in Sydney while Melbourne’s moneyed gathered at Flemington for the Melbourne Cup

Sydney’s Royal Randwick Racecourse played host to many a politician this year. Picture: Mark Evans/Getty Images

It might have been run at Flemington, but circumstances meant the might and power of politics gathered at Sydney’s Randwick for the 161st running of the Melbourne Cup.

Eyes might be on Glasgow, but for mad keen punter and horse racing flesh owner and Foreign Minister Marise Payne, the biggest question at 3pm was whether it would be Incentivise or Verry Elleegant for a win in the 3200m race.

Never one to miss the race that arguably still stops a nation, Payne had eyes only for the form guide as her leader Scott Morrison continued to fuel a political brawl in Scotland with our former subs partner France and its leader, Emmanuel Macron.

Payne was there with partner and similarly racing mad NSW Jobs Minister Stuart Ayres, his fortunes seemingly not as fruitful in the big race, which was ultimately won by Kiwi-owned but Aussie-trained Verry Elleegant.

Ayres, who has himself received a promotion of late to deputy of the NSW Liberal Party, was seen sharing a chat with Parramatta Eels halfback Mitch Moses in the minutes after the race – the western Sydney minister always keen to show his blue-and-gold allegiance.

Same, too, for Michelle Rowland, member for Greenway who was also seen among the rugby league players circle, even donning the team’s colours in a fetching gold ensemble to boot.

Even former Nationals leader and member for the Riverina ­Michael McCormack professed his love for the Eels, sharing detail that he and wife Catherine had married in the same year the team won its last premiership.

Former federal Liberal minister Craig Laundy, who has now returned to his roots as a pub baron, made an appearance, fresh from his family’s $35m ­purchase of historic NSW ­central coast ­watering hole the Bayview Hotel at Woy Woy on Friday.

The former member for Reid, who retired from Canberra in 2019, was spied sharing tips with McCormack, whose replacement as Nationals leader and current acting PM Barnaby Joyce was elsewhere basking in a $150m dangerous remote roads announcement.

For all that Laundy hangs around in pubs, the punter had little luck in the big race, telling Margin Call he had dropped cash on Tralee Rose after mishearing its name.

Elsewhere, Canberra’s biggest crypto advocates, Jason Falinski and Andrew Bragg, were spotted swapping bitcoin tips, Falinski beating Bragg to the moniker of the first member of parliament to hold crypto – and not letting him live it down.

Tabcorp director David Gallop was spotted doing the rounds, not far from his head of government relations, Tom Callachor.

No word on whether the two discussed Gallop’s successful $81m float of bamboo underwear group Step One on Monday, nor whether either of the two were again sampling the wares as Gallop was rumoured to be for the float.

NSW MPs Meryl Swanson, Michael Daley and Ryan Park all joined the post-pandemic party as well, with lockdown seemingly a distant memory.

Meanwhile at the cup’s home at Flemington, Melbourne’s monied gathered with racing chiefs in the VRC Committee Room, with the Birdcage this year transformed into a native garden due to Covid restricting trackside attendees to 10,000 – a mere 10 per cent of the event’s usual crowd.

Jayco Caravans magnate and horse owner Gerry Ryan was there with Treasury Wine Estates boss Tim Ford. The wine group is the long-term wine partner of the VRC and in particular the Melbourne Cup. Its prestige label Penfolds is the naming sponsor of the cup carnival’s Derby Day, held on Saturday.

While Ford oversees a company renowned for its Grange, Ryan also has a wine business of his own in Mitchelton. Our spies were unable to confirm if Ryan and Ford were comparing vintages or racing tips.

Ryan’s big hope for the race was Grand Promenade, which he part-owns with business identities including John Ribot, the former international rugby league player and later administrator. Ryan also has a share in Twilight Payment.

Also spotted in the reduced-capacity Committee Room was Racing Victoria boss Giles Thompson, as well as Melbourne Racing Club boss Josh Blanksby and his chairman Peter Le Grand.

Elsewhere, AFL great Matthew Richardson was seen enjoying the day, as was federal trade minister Dan Tehan, Labor senator for Victoria Kimberley Kitching and newly promoted Assistant Industry and Energy Minister Tim Wilson.

Never far from the racing action, Tabcorp’s Bruce Akhurst was flying the flag, while gaming boss Adam Rytenskild was also there.

Smith on outer

New (but old) Victorian opposition leader Matthew Guy says he has told his disgraced now backbencher Tim Smith that he doesn’t want him to contest his seat of Kew at the next election.

Guy has given Scotch old boy and former shadow attorney general Smith, 38, time to reflect on his future after his boozy Saturday night car crash.

Outspoken Smith, who so publicly hammered Labor MP Will Fowles when he kicked in a wall at a Canberra hotel in 2019 amid issues with alcohol and his mental health, is set to return to Melbourne on Wednesday after escaping for the weekend to his mum and dad Dianne and Colin’s expansive family holiday home on the oceanside of Blairgowrie on the Mornington Peninsula.

The media pack will be waiting for the shamed pollie, who after he left local politics but before he entered state politics worked for a time as a consultant at Deloitte and PwC.

A path back there is unlikely following his weekend blowout, with Smith probably way too hot to handle for a top-tier firm now.

Notably, Smith looks to have accumulated little in the way of assets during his high-profile political career. In terms of real estate, he has a two-bedroom unit in Kew that he bought about five years ago for $710,000 and which is mortgaged to Tassie financial services outfit MyState Bank.

Smith, who has no shareholdings, other real estate holdings or company directorships, earns a base salary as a member of the Legislative Assembly of just under $187,000, plus – until the weekend – about another $30,000 as a shadow minister in extra salary and expense allowance. There is also tens of thousands a year in various other allowances for the likes of car, local and international travel and accommodation that MPs can claim, so there is plenty at stake.

Smith might find it awkward to resume his place in the Melbourne establishment as a member of the Australian Club on William St and The Athenaeum Club on Collins.

Reassuring, however, will be Smith’s ability over time to fall back on the family trust of which he is beneficiary. Looks like he’s one of the lucky ones to have a familial safety net.

INSIDE MARGIN CALL

Tim Smith is on the outer with Vic Libs leader Matthew Guy