sir sickolot II SG on hindsight, given the STB pumped in so much cash, I guess it is reasonable to expect some profits from the F1 races to flow back to govt However, I agree with the fact some checks and balances got to be there to ensure the money goes into the right fund. and not some deep pockets of you-know-who
Gazelle SG I think there is nothing the government can do to avoid being criticised by the people in this forum, because it is just so typical of Speaker' Corner. Suppose if there is no cap on OBS's company's earning from F1, do you have reason to believe that Singaporeans will be happy to see OBS making millions at the expense of the tax payer's money that government has contributed to this project? Plus I am sure speculation about OBS using PM Lee to pull string will pop up in this forum, and they will link this back to an event which happens many years back about PM Lee or LKY buying an apartment from HPL at heavily discounted price.
oxford mushroom SG The only reason for hosting F1 is for the revenue. Motoring is an elite sport that benefits few, damages the environment and disrupts traffic and other commercial activity around the area. OBS is convinced that it will be profitable. Since the government has to put in 60% of the costs of hosting the event, we the taxpayer should get the profits. If there is a loss, it is also the taxpayer's investment that has been lost. I fail to see how OBS can afford to pay back the 60% investment by the government. In that event, kill the F1 after 5 years.
Fingolfin_Noldor SG I will be surprised if he can even host more than one. The question is whether there's enough tourist revenue from this. If it isn't enough, then no one will profit.
oxford mushroom SG If the revenue is not enough, kill the F1 when it comes up for renewal after 5 years.
charlize SG For a doctor to say things like "kill" when "revenue is not enough", well, yeah, it kinda makes me think.
oxford mushroom SG we kill parasites and cancers that feed on the living....any activity that drains the national resources rather adding to it must be eliminated as we would a tapeworm
Kuali Baba SG Ya and you've got to ask why other countries that make less than we don't don't "kill" their Grand Prix event but try to save them.
hloc SG Singaporean...... If GOVT spent 'Tax Payer' money on a non-profit making project...... citizen complaint Govt waste 'Tax Payer's Money' . If GOVT spent 'Tax Payer' money on project that must make money..... citizen complaint also...... Govt is too money minded..... It seems that it is "DAMN IF YOU DO & DAMN IF YOU DON'T"...... Singaporean......
mistyblue SG Aiming to be Monacco of the east since we will never reach swiss standards of living but reach japan standards of cost. Remember - Monacco is touted as the playground of the rich and famous.
rane SG Originally posted by hloc: [b]Singaporean...... If GOVT spent 'Tax Payer' money on a non-profit making project...... citizen complaint Govt waste 'Tax Payer's Money' . If GOVT spent 'Tax Payer' money on project that must make money..... citizen complaint also...... Govt is too money minded..... It seems that it is "DAMN IF YOU DO & DAMN IF YOU DON'T"...... Singaporean...... [/b]Then you go say a big thank you and kowtow to them for the increase of GST, constant rise in the cost of living and so on. Go on give thanks to them and suck up to them. Nobody is stopping you. So don't come here and point fingers when people voice out their concerns and so on. Go go and complain about us to the ruling party, since you are so unhappy with us. WE have done nothing wrong. YOu wanna find fault here, this is not the place. Put your brain to good use, scumbag!
