Soaring price tag casts doubt on benefits of hosting games
But when it comes to shiny objects and public finances, well, you just figure out a payment plan.
The provincial tourism minister holding the bag here, Lana Popham, told us the obvious – that when B.C. got the initial numbers, “it was before we had a full understanding of the requirements.” To which one’s reflex is a version of “No kidding, Sherlock.” When he was a more cautious B.C. premier in 2018, John Horgan initially balked at the idea of lending support – and our money – to games in Vancouver. He worried about the “blank cheque” he could be signing. It bothered some soccer fans, but mostly it seemed a rare outbreak of economic common sense from an NDP government.
And here we are, Premier David Eby having inherited the fiscal challenge from our current ambassador to Germany, with long-overdue financial estimates predicting a “net cost” – a softer term than “loss” – of somewhere between $100 million and $145 million. That doesn’t include the federal, provincial and municipal revenue into producing that net cost.
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