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No business case for stadium splurge

The Liberal government is putting Tasmania’s finances at risk by stubbornly pushing ahead with its new $750 million stadium in Hobart.

Premier Jeremy Rockliff conceded in Parliament this morning that there is no business case for the new stadium, meaning the Liberals have no idea what the annual running costs and estimated profit and loss will be, and no estimate of the ongoing annual subsidy that will be required.

How can any government in good conscience sink $750 million of public money into a stadium when it can’t even answer these basic questions?

How can they expect Tasmanians to trust them with the state’s finance when they’re willing to be so reckless with taxpayers’ money?

While the Premier continues to claim that the stadium will help fund health and education systems, he can’t even explain the basics of how it will make money.

The Kardinia Park Trust in Victoria hosted 90 events in the 2019 – 2020 financial year and, even after receiving almost $5 million in government assistance, still lost $1.3 million. In fact, almost every stadium in Australia loses money.

This is the risk the Liberals are prepared to take with Tasmanians’ money just to write a blank cheque to the AFL.

This unnecessary stadium plan will be a huge drag on a State Budget the Liberals have already driven deep into the red – and Tasmanians have every right to feel betrayed by a government that is so reckless with their money.

Shane Broad MP
Shadow Treasurer