Quote:
Originally Posted by 4444
Why do we need a government funded stadium? I just don't think it should be in their mandate. Yes they'll never recover the roof cost, but then again bc ferries will never get back the fast ferries money - both sunk costs...
Doesn't bc place lose money every year? Ideally it shouldn't, but that roof has become expensive to upkeep... We should cut our losses - if developers want to develop on it, so be it, the rest of downtown is becoming all residential, it wouldn't be out of place
On day politicians will realize we need businesses downtown, not hipsters living in apartments, but I'm no politician...
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Very few stadiums are completely funded by private money; only the most elite sports teams in the world are able to fund stadiums. I'm not saying that sports teams should be subsidized by the taxpayer, but the reality is that they are and it's politically expedient to do so - after all, commoners want their share of bread and circuses.
I think everyone recognizes that we need businesses downtown; in fact there are a number of new office buildings that will be completed over the next 5 years. However, businesses don't come here unless you create the climate. What do you suggest? Lower taxes? (they are already quite low) Subsidies and grants? (politically problematic) Intervention in the housing market so that talent will move here? (Again, politically problematic)
To be fair, I don't know what the answers are either. I think at the end of the day, the government should focus its energies on making sure that smart people don't leave and that we can attract people who actually want to live here and contribute to the economy. How does this translate into tangible policies? That's the million dollar question.