WYD- $86M! WTF?
Monday July 14th 2008, 4:14 pm

Mr Iemma said World Youth Day would would showcase the city to a global audience and generate $150 million in revenue.

Mmmmkay, so 10% GST on $150 million is $15 million, which is then shared amongst 7 states and territories. NSW got 29% of the GST take in the last negotiations. 29% of $15 mil is $4.35 mil.

$4.35 mil would cover only about 10% of the $42 million paid to compensate the racing industry for the loss of use of Randwick Racecourse and is around 5% of the government’s reported $86million spend on World Youth Day (month).

Could be the new maths… but I’m just not seeing the value for money, particularly when Australians’ freedom of movement and civil liberties are suspended in compensation for their trouble and expense.


3 Comments so far
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All I’m hoping is to see a share of the profits from my generous tax donation to the Catholic Church.

Comment by Flashman 07.14.08 @ 9:47 pm

I hear you can be paid in indulgences or take your reward in heaven. Only a rumour, though. 😉

Comment by weez 07.14.08 @ 10:15 pm

generate $150 million in revenue.

Let’s surmise for a moment that Big Mo meant that we’d be raking in $150m in tax. The pilgrimes (no typo) would have to spend $1.5 billion to generate that much tax revenue- each of estimated 200,000 would have to part with $7500. Might I suggest they’re not actually bulking up the tax take by sleeping on school gym floors.

Iemma must have some sophisticated statistical information I’m not entitled to.

Comment by weez 07.14.08 @ 10:22 pm

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