The Parliamentary Budget Office has told the NSW ALP the SCG Trust can repay the loan over 35 years.
Labor will force the SCG Trust to repay a maximum $644 million loan to proceed with the upgrade of the Sydney Football Stadium at Moore Park, if elected at the end of the month., the Parliamentary Budget Office has told the NSW ALP the SCG Trust can repay the loan over 35 years with reduced payments for the first five years. It’s understood the total value of the loan is $644 million with $40 million in interest.
Labor leader Michael Daley insists the design of the stadium will be more modest and in keeping with the local environment if he’s elected.He is also not committing to offering the entire line of credit but would wait and see what other more “cost effective” options are presented. Labor leader Michael Daley insists the design of the stadium will be more modest and in keeping with the local environment if he’s elected.Sports Minister Stuart Ayres has consistently said that a loan, like Labor is proposing, is “almost impossible” for the Trust to service.
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