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UPDATED Every major claim about the grand prix is false or misleading. Here is the proof
NEW Ecclestone's bribery and corruption scandal. Here are the facts that Melbourne's newspapers won't print
As the government did not follow the Auditor-General's recommendation to perform an annual cost-benefit analysis to determine if the grand prix is worthwhile, SAP commissioned Economists at Large (www.ecolarge.com) to update the A-G's cost-benefit analysis. They found the 2012 event resulted in a net economic loss to Victoria of $60.6 million. The report is here.
The government and the grand prix corporation have consistently refused to disclose under FOI any documents that can prove (or disprove) their claims of attendance. SAP has appealed to VCAT, asking for details of how they made up the attendance figures at last years race as they are far above those apparent from the audited ticket sales. The grand prix says revealing the truth would disadvantage them. Indeed. We have posted a public interest statement (here) for the VCAT judge to consider.
Grand Prix headed for the major events scrapheap? - Crikey.com.au Monday 29 March 2010
SAP's Submission to the Victorian Auditor-General:
On May 20, 2003, Save Albert Park presented to the Victorian Auditor-General a submission proposing that, in the public interest, a cost-benefit analysis be carried out on the Grand Prix.
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