GSD questions why Gibraltar Savings Bank will be funding new stadium when in 2016 GFA said UEFA would pay

The Opposition has questioned why Gibraltar Savings Bank money will be used to finance the new football stadium.

It highlights that in 2016, the Football Association said the stadium would be built with UEFA funds, with the government also saying there would be no cost to the taxpayer.

Yesterday, Number Six told GBC the stadium is likely to cost around 100 million pounds over an 18-month period, with the Savings Bank to provide a loan to the GFA.

Our reporter, Christina Cortes, asked the leader of the opposition, Keith Azopardi, how satisfied he was with the Government's explanation of the new arrangements.

The GSD says it wants to know if UEFA is still making a contribution to the new stadium, and questions why it is no longer exclusively paying for it, as previously announced.

The opposition leader says notwithstanding the popularity of the sport, it is important to scrutinise what has been announced, and receive assurances on what the benefits to the community will be. Keith Azopardi adds it is important to ensure that savers' deposits at the Gibraltar Savings Bank are being properly used for a clear and guaranteed return.

It says with a public finances crisis, and many Gibraltarians enduring a cost of living crisis, the Savings Bank money could be put to better use.

The party also questions how an "excessive" 8,000 seater stadium can be cost effective when only a couple of hundred spectators attend most league games, and a couple of thousand watch the World Cup (qualifying) games.

The GSD calls for transparency on the structure of the proposed project, as well as the involvement of Community Services and Supplies Limited, a company it refers to as relatively unknown and opaque.

The party says transparency is needed as to who is building the stadium, at what cost, and who is benefiting commercially from the proposed project.