F1 » Labor government to blame for $50m cost of Oz GP

Political finger-pointing accompanies report into the cost and impact of the 2011 Australian Grand Prix.

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NK - Unregistered

July 22, 2011 12:34 PM

As a Melbournian and F1 fanatic, its a big hard to justify that kind of investment of my taxes. Sorry - I'd rather have decent public transport and accessible hospital beds, than a 2 hour motor race so Ecclestone's daughter can purchase an $80m part-time mansion in LA! Its a question of priorities.

fastlane66 - Unregistered

July 22, 2011 3:22 PM

Street circuit cost more than regular Race circuit to host Formula One especially in Australia.
If Melbourne wants to keep Formula One and then the Government needs to find permanent venue for Melbourne GP. Otherwise, Government should use that 50 millions annually on Melbourne street homeless youth rehabilitation program.
I'm comfortable with watching Melbourne GP on TV rather than watching from the stand.

Caroline - Unregistered

July 23, 2011 3:11 PM

You can prove anything with statistics.

The sentence:

"the 2011 race produced only $39m of economic activity in return."

Only shows 'first tier' economic return, because that's what the Victorian government wanted to show, when 'all tier' economic returns are used, as shown in the report by the Australian National Institute of Economic and Industry Research, the race brought in $165.7 million in economic benefits.

You take your pick, who do you trust? Politicians or an independent economic and industry monitor?

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