Adelaide 500 Supercars race cost nearly $35 million, SA government reveals in mid-year budget review
adelaide 500, budget, debt, forecast, labor, liberal, matt cowdrey, mid year budget review, mybr, north-south corridor, Premier, race, stephen mullighan, Supercars, wch, womens and childrens hospital
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, 2022-12-15 22:34:39,
The cost of reviving the Adelaide 500 Supercars race has blown out to nearly $35 million this year, with the South Australian government yet to confirm its economic benefit to the state.
Key points:
- The SA government’s mid-year budget review reveals the cost of the Adelaide 500 blew out to nearly $35 million
- The government will also spend more than $26 million to fund 33 full-time residential carers in the child protection department over the next four years
- The Major Events Fund has been allocated $12 million
The mid-year budget review (MYBR) revealed an extra $13.9 million was needed to bring back the event and fulfil the major Labor Party election commitment.
Initially $21 million had been set aside for the race.
Treasurer Stephen Mullighan said the extra costs related to track upgrades and purchasing infrastructure sold off by the former state government.
“This is a testament to the short-sightedness and vandalism that [former premier] Steven Marshall and the former Liberal government undertook when they flogged off the Adelaide 500 assets,” Mr Mullighan said.
Shadow Treasurer Matt Cowdrey disagreed.
“The Premier understood what was required to stage the 500 this year and what we’ve seen is a clear inability to budget for election commitments made,” Mr Cowdrey said.
Mr Mulligan said the event had been a “raging success” but the exact economic benefit for the state was…
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