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ESC Water Pricing Decision

The Essential Services Commission released their draft report on Melbourne’s water pricing situation; ESSA was there to bring you the latest from their investigation.

The Australian F1 Grand Prix: Melbourne’s Economic Failure?

The Pirelli was skirting once more at Albert Park, last week, as the 2013 Australian Grand Prix arrived on its yearly visit. The high-octane event has been carried out in Melbourne, ever since it was moved from Adelaide in 1996. However, it wasn’t just the rain which dampened some people’s enthusiasm for the event. As is increasing the case each year, the media and variety of parties with vested interests were steeped in debate over whether the F1 Grand Prix is in fact economically viable.
According to a report tabled in the State Parliament, the Victorian taxpayer is losing over US$34 million to the event; most of which, is going to president and CEO of F1 Management, Bernard Ecclestone, just for the right to host the event.[1]
That’s a lot of opportunity cost in government expenditure!

Read moreThe Australian F1 Grand Prix: Melbourne’s Economic Failure?