Tuesday, August 12, 2008

If it's such a good idea...


1000 marchers oppose ratepayer funding of a new stadium


Private companies are dead keen to get their hands on any public New Zealand going concern that is functioning well and can either be run as a cash cow or stripped of its assets, like the Railways, Kiwibank, or ACC, but the absence of any interest from the private sector is noticeable when it comes to actually building up a new community resource.

Opposition to the proposed massively expensive Dunedin Stadium is based on the enormous cost that will be borne by ratepayers, the lack of transparency to the public, the absence of any open access to the real balance sheet, a failure to state the real costs and benefits, and the unlikely prospect of the stadium ever returning any true benefit to any more than a tiny portion of the community. Experience elsewhere around the world shows the likelihood of the stadium sustaining huge cost overruns, and of it becoming an expensive white elephant - if it is ever built - that bankrupts this city.

And meanwhile what's to be done with Carisbrook?

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