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24th January 2023, 19:28

GSD says it's staggering Govt agrees to stadium financing without having seen financial feasibility report

Published by GBC News

The GSD says it is staggering that the Government has agreed to commit £100 million of Savings Bank money to the new Victoria Stadium without having seen the financial feasibility report for it.

The Opposition party says the Government has not had any discussions with the GFA as to whether UEFA rules would allow the building of a smaller stadium.

It says the Minister for the Savings Bank, Sir Joe Bossano, confirmed he has had no role in approving the residential or commercial configuration of the new stadium project which should be key to whether the scheme is profitable.

Opposition Leader Keith Azopardi says the Government has been assuring the public that the project is a good investment and financially viable but questions how they can so if they haven’t even seen a copy of the feasibility report.

He says the so-called National Economic Plan is not only opaque but without any great planning. Mr Azopardi describes it as a cheap electioneering stunt which was reckless with necessary due diligence.