HOSTING World Youth Day will cost the Federal and New South Wales Governments $76m, documents reveal. Sydney's Randwick Racecourse is the venue for the 23rd World Youth Day from July 15 to July 20, for which Pope Benedict XVI will make his first visit to Australia.
Documents obtained under Freedom of Information show the Federal Government will contribute $35m towards the cost of the event, with the NSW Government providing $4m.
NSW Deputy Premier John Watkins said extra costs on top of the overall figure were likely, although they would be offset by the benefits of the event.
To be attended by an estimated 500,000 people, it's predicted to inject $150m into the state's economy.
'' ... there will be other costs borne by the state,'' Mr Watkins said.
``None of those costs will go anything near the benefit that comes to NSW by hosting one of the biggest events this year.''
The Australian Jockey Club will get $50m to vacate the racecourse for the event.
Trainers will get $10m, $10m will go on new infrastructure, $20m to get the track ready for the Spring Racing Carnival and $7m will be used for renovations.
World Youth Day spokesman Danny Casey said organisers had not been part of negotiations between the Government and the racing industry. +++++++++++++++++++++++++++++++++++++++++++++++++++Disclaimer
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