Tasmanian government to seek loan for Hobart stadium funding shortfall

ABC NEWS (Australia)

The Tasmanian government will shift away from its plan to seek private investment to help fund the proposed Macquarie Point stadium, opting to fund the construction through existing funding and extra borrowings.

Transcript

00:00A pair of prized recruits set to assemble the Devils playing list.

00:07To be able to bring players in that can draw the crowd, can draw people through the gates

00:14I think is just incredibly important.

00:17Architect of two Premiership winning lists at Collingwood, Derek Hine joins as head recruiter.

00:23While Tasmanian born Todd Patterson leaves Melbourne to start as head of list management and strategy.

00:29I think Tasmanians want to see Tasmanians wearing the jumper and I think Tasmanians also want

00:35the best team possible so it's going to be striking a balance.

00:38But while the Devils continue to build, the building of their future home is under scrutiny again.

00:44The State Government is ditching a public-private partnership for the Macquarie Point Stadium.

00:50Minister Erica Betts saying that would cost the taxpayer more, take longer to implement

00:55and take away from the asset being owned by and for the Tasmanian people.

01:00It means the Macquarie Point Development Corporation will borrow to fund any cost overruns

01:05and look to recoup the money via land sales.

01:08Despite the Premier's pre-election insistence that he'd drawn a line in the sand and cap the State's funding.

01:15The $375 million will be invested and not one cent more. This is our commitment.

01:22A promise he's made many times since and is now accused of breaking.

01:27This is not a mythical private company. The Macquarie Point Development Corporation is an arm of the government.

01:33It is an arm of taxpayers' money.

01:35Premier Rockliffe went to the last election and he lied to Tasmanians.

01:39The Government maintains nothing's changed.

01:42The concept of borrowing was always on the cards.

01:46In the next fortnight the State Government is set to release a draft of the special legislation

01:51that will need to pass both Houses of Parliament for the stadium to be approved.

01:56It will then have to convince at least two Upper House Independents of the project's merits.

02:02Part 1

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