Source:State Government of Victoria (Melbourne)
Posted: Wednesday, July 8, 2015 Updated: Wednesday, September 2, 2020
The Government of Australia's State of Victoria has released the Regulatory Impact Statement (RIS) which analyses the benefits and costs to businesses and the community of declaring 2 new annual public holidays in Australia's State of Victoria; the day of the AFL Grand Final parade, and Easter Sunday.
The aforementioned Regulatory Impact Statement (RIS), prepared by PricewaterhouseCoopers Australia (PwC) in its capacity as advisor to the Victorian Department of Economic Development, Jobs, Transport and Resources, estimates benefits in the order of between $180 million and $412 million annually, while the lost production/economic cost from the new public holidays is estimated to be between $717 million and $898 million annually, plus a transfer of between $252 million and $286 million annually from employers to those people who work on the public holidays.
The report thus concludes that "Overall, the estimated costs of the new public holidays outweigh the quantified benefits", but weasels out by adding in the same sentence that "however, there is the potential for wider benefits to accrue to families and the broader community associated with coordinated leisure time" and passes the buck shamelessly in concluding with "This RIS is seeking the community's feedback on the proposed Easter Sunday and the Friday before the AFL Grand Final public holidays and their supporting analysis. It is also seeking feedback on the likelihood that the community would sufficiently value the additional coordinated leisure time created by the new public holidays to support the overall proposal.".
Four years ago (2011-07-17), then leader of the opposition of Australia's State of Victoria, Daniel Andrews, had announced that he would support the push for an extra public holiday to celebrate AFL Grand Final week, if he became premier.
Shortly after his election, late last year (2014-12-01), Premier-elect of the State Government of Australia's State of Victoria, Daniel Andrews, announced that he would make good on his promise of 2 new public holidays in Victoria by the publication of their declaration in the Government Gazette (as opposed to a possibly lengthy parliamentary debate).
There would be 2 changes to the list of official non-working public holidays in Australia's State of Victoria for the period of 2015-2020, as released by the State Government of Australia's State of Victoria (2014-09-04, 2014-03-17 and 2013-03-08). Friday, October 2, 2015, the day of the AFL Grand Final parade, would be a one-off non-working public holiday in Australia's State of Victoria, as promised during the recent electoral campaign (2014-10-27), and Easter Sunday would also become an annual non-working public holiday, as it was declared in the state of New South Wales, a few years ago (2010-10-13).
Links and References
Below are links to the news stories referred to in the above "Australian Victoria New Public Holidays Update" news story, as well as links to subsequents news stories which refer to the present news story.