Remove this Banner Ad

Vic Daniel Andrews and the Statue of Limitations

🄰 Love BigFooty? Join now for free.

Time for another victory lap?

The man was a visionary.
ā€œPower for people, not profitā€. That was Dan’s spin for the rebirth of the SEC. And voters fell for it! A promise of the government handing over $1B to the SEC to create 4.5gigawatts of renewable energy, the creation of 59,000 jobs, cheaper power, and emissions cut by 80%.

The first project, a battery farm, has used $245M of the $1B, and has created - wait for it - 155 jobs.

And now the Allan government has reneged on the election promise of the SEC taking a majority stake in each project. Remember Dan promised to bring back ā€œgovernment ownership of energy generationā€

As the editor of The Age says, Looks like new SEC is too good to be true
 

Log in to remove this Banner Ad

Remove this Banner Ad

The Victorian government approved a secret taxpayer-funded bailout of Tennis Australia on the eve of the last state election, just four months before record crowds flooded back to Melbourne Park for last year’s bumper Australian Open.

The previously undisclosed ā€œsolvency and cash flow supportā€ payment of up to $63 million, approved by Treasurer Tim Pallas on September 1, 2022, was purportedly made so that Tennis Australia could pay its bills after its cash reserves were depleted by the additional cost of staging successive tournaments during the pandemic, documents obtained under freedom-of-information laws reveal.

The contingency was approved about the same time the government forgave a $40 million loan made to Tennis Australia in February 2021 to cover additional costs at the height of the pandemic.
 
The Victorian government approved a secret taxpayer-funded bailout of Tennis Australia on the eve of the last state election, just four months before record crowds flooded back to Melbourne Park for last year’s bumper Australian Open.

The previously undisclosed ā€œsolvency and cash flow supportā€ payment of up to $63 million, approved by Treasurer Tim Pallas on September 1, 2022, was purportedly made so that Tennis Australia could pay its bills after its cash reserves were depleted by the additional cost of staging successive tournaments during the pandemic, documents obtained under freedom-of-information laws reveal.

The contingency was approved about the same time the government forgave a $40 million loan made to Tennis Australia in February 2021 to cover additional costs at the height of the pandemic.

And yet we hear TA treat the govt and the trust like lepers
 
The Victorian government approved a secret taxpayer-funded bailout of Tennis Australia on the eve of the last state election, just four months before record crowds flooded back to Melbourne Park for last year’s bumper Australian Open.

The previously undisclosed ā€œsolvency and cash flow supportā€ payment of up to $63 million, approved by Treasurer Tim Pallas on September 1, 2022, was purportedly made so that Tennis Australia could pay its bills after its cash reserves were depleted by the additional cost of staging successive tournaments during the pandemic, documents obtained under freedom-of-information laws reveal.

The contingency was approved about the same time the government forgave a $40 million loan made to Tennis Australia in February 2021 to cover additional costs at the height of the pandemic.

These people let the commonwealth games go but oh no we must save Tennis Australis rolls eyes
 
The Victorian government approved a secret taxpayer-funded bailout of Tennis Australia on the eve of the last state election, just four months before record crowds flooded back to Melbourne Park for last year’s bumper Australian Open.

The previously undisclosed ā€œsolvency and cash flow supportā€ payment of up to $63 million, approved by Treasurer Tim Pallas on September 1, 2022, was purportedly made so that Tennis Australia could pay its bills after its cash reserves were depleted by the additional cost of staging successive tournaments during the pandemic, documents obtained under freedom-of-information laws reveal.

The contingency was approved about the same time the government forgave a $40 million loan made to Tennis Australia in February 2021 to cover additional costs at the height of the pandemic.
I would be interested to hear the justification for paying $100 million of public monies to be, effectively, handed on to a group of multi-millionaire tennis players.
 
I would be interested to hear the justification for paying $100 million of public monies to be, effectively, handed on to a group of multi-millionaire tennis players.
They'll probably say that "money talks."


Tennis’ Australian Open generated AUS$405.3 million (US$282.3 million) in economic benefit during its 2021 and 2022 editions, according to a new report by analytics firm Nielsen Sports.


The 2022 tournament generated AUS$267.3 million (US$186.5 million) in Real Gross State Product, while last year’s Australian Open generated AUS$138 million (US$96.3 million). Restrictions meant the figures were below pre-pandemic levels, with the 2020 tournament generating AUS$387.7 million (US$270.5 million).


Over the past ten years, the Grand Slam has contributed AUS$2.71 billion (US$1.89 billion) to the Victorian economy...

I'd like to see the Victorian taxpayer reap a little more reward for offering up our dollars like that though.
 

🄰 Love BigFooty? Join now for free.

In all fairness, perhaps the justification is "we, the Government, imposed a bunch of requirements on Tennis Australia that cost them money, so we agreed to give them some cash so we could keep the Oz Open here". Nowhere near the mistake in scale or judgement that the Comm Games were.
 
In all fairness, perhaps the justification is "we, the Government, imposed a bunch of requirements on Tennis Australia that cost them money, so we agreed to give them some cash so we could keep the Oz Open here". Nowhere near the mistake in scale or judgement that the Comm Games were.

If Dimopoulos'(hope spelling is correct) figures are to be believed, the AusOpen will generate 4billion $ into the state economy over the period extension facilitated/fast-tracked by this payment.

While I agree with your last line, still have a major issue with this not being transparently disclosed at the time. 'IF' there is justification, then spell it out so people have context.
 
If Dimopoulos'(hope spelling is correct) figures are to be believed, the AusOpen will generate 4billion $ into the state economy over the period extension facilitated/fast-tracked by this payment.

While I agree with your last line, still have a major issue with this not being transparently disclosed at the time. 'IF' there is justification, then spell it out so people have context.
I've got no issue with supporting the AO particularly if there was any truth to the stories about Sydney and Shanghai circling for it. What is unacceptable is that the handout was shrouded in the usual Andrews government secrecy.
 
If Dimopoulos'(hope spelling is correct) figures are to be believed, the AusOpen will generate 4billion $ into the state economy over the period extension facilitated/fast-tracked by this payment.

While I agree with your last line, still have a major issue with this not being transparently disclosed at the time. 'IF' there is justification, then spell it out so people have context.
None of these types of figures are ever right.
 
None of these types of figures are ever right.

The article link quoted earlier on this page says 2.7 billion the last 10 years, not too much of a stretch to accept 4 billion for the next 10 - but yes to your point - what is the 2.7 billion past figure based on to justify the 4 billion future figure? It's obvious the volume of visitors, and therefore accommodation, retail, hospitality, etc expenses, but are they based on a delta to the 2 weeks prior with the same holiday period scenario?
 
The article link quoted earlier on this page says 2.7 billion the last 10 years, not too much of a stretch to accept 4 billion for the next 10 - but yes to your point - what is the 2.7 billion past figure based on to justify the 4 billion future figure? It's obvious the volume of visitors, and therefore accommodation, retail, hospitality, etc expenses, but are they based on a delta to the 2 weeks prior with the same holiday period scenario?
All these figures are based on a report commissioned by Tennis Australia and released the same month they received their bailout. I mean :shrug:

But hey, maybe they returned some of that money.
 

Remove this Banner Ad

Vic Daniel Andrews and the Statue of Limitations

🄰 Love BigFooty? Join now for free.

Back
Top