Friday 15 July 2011

What Marriner asks from Government

: Shadow Treasurer Joe Hockey said he will do what he can to ensure David Marriner's plans are fulfilled.

by Mat Churchill

Federal Government - 3 x $6m payments over 5 years
State Government - 3 x $6m payments over 5 years

David Marriner has described his proposal to Government to help pay for the refurbishment of the Sheraton Mirage as a no risk way to help secure the future for Port Douglas.

Speaking to around 200 people at his new property last night, Mr Marriner said there was no reason the Government should feel apprehensive about the application for funding.

"We're out there talking with Federal Government about making contributions to what we call our public infrastructure, and this is in fact a $6 million contribution after we are effectively half way through the construction.

"A second payment 21 days after practical completion, and a third payment only comes into play after we've achieved the three data points, or hurdles, that are part of our long-term agreement.

"So they contribute $18 million roughly over a five year period...We're able to demonstrate to Government a very early repayment."

This repayment is estimated to be within four years.

"I was always trained that the one that has the least risk is in fact the person who has got the last money in.

"We've said to Government 'you only come in when we've achieved our hurdles, we've built the infrastructure, we've taken the development risk, and I have to say that there is no better framework for the Government to participate in the project."

"If we breach or fail to perform, we lose $10m, we lose all of our land, and the Government retrieves the infrastructure in full.

"Given that the Government commits and steps up to the mark for this region we do one other important thing - we say 'we will spend $40 million of our own money to refurbish this asset'.

"So it's my personal view that that's a winner for everybody in this town that's in tourism particularly, or in the service industry, and I'm sure it's going to make a significant impact to the unemployment of this town."

Mr Marriner said that with Government support the redevelopment could be completed in two years.

Have your say!

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Kay Partridge, 22-07-11 18:29:

Why ? Why would we want our hard earned taxes to go to finance a business which is in direct competition with all businessess in Port Douglas & Cairns, ie accommodation, restaurants, souvenirs, clothing etc
We in small business work hard to make a living. I'd like to hear what the government would say if I asked them to fund my refurbishment. Mr Marriner go to the bank like we have to do.

Nick Marshall, 21-07-11 01:10:

It seems that that the larger the business the more likely it is to go cap in hand to the government and the developers and builders always seem to be at the head of the queue. It is no wonder that property in this country is about the most expensive on earth – especially when you consider the huge size of the continent and the small population. Logically, property should be cheaper in Australia but because of never ending special deals for property - $7000+ first home owners grants, infrastructure grants, the recent $4 million CRC handout to developers, negative gearing and so on – the price of property has become a high risk investment for younger Australians trying to enter the market. David Marriner is just another example of a canny operator trying to exploit feckless politicians who have become so used to dishing out other people’s money without regard for where it comes from. They probably still believe that it comes from thin air – which, of course, is where most of it has been coming from over the last decade or two, courtesy of the banksters. I am glad to see, though, that one politician at least (Jason O’Brien) has the gumption to say no.

rob parry, 20-07-11 20:36:

I agree with Jason and others on here reasoning with Mr Mariner finding his own funding for his and others (Internationals) funding there own private enterprises.
Myself and my partner have had to fund our own business in Port Douglas with no help from state or federal structures. In fact at the time, the state government taxed us $7500 for stamp duty on a property with no house and then the federal government gave us a first home/property buyers contribution of $7000. Yeah thanks guys, so much for the first home buyers contribution costing us $500. If you want private enterprise for yourself and Internationals, find your own money like everyone else.
Rob Parry

Rod Roberts, 20-07-11 09:59:

I've bought into Port Douglas and I had to finance it through a Bank.
I never considered asking the Federal or State Gov'ts to stake me - its not what they are there for as I see it.
I depend on tourists staying in my property to pay its way.
I want those tourists to have a good time, enjoy the local ambience and restaurants, local tours etc. and most of all , COME BACK!
I have read Mr Marriners presentation and see little that benefits anything other than the Sheraton. And.... he wants the Feds to fund it?
Go figure..........

Jennifer Hill, 18-07-11 10:00:

I believe that the state and Federal governments are here to support Australian companies and Australian communities for the long haul. What guarantee is there that the money given to the Chinese consortium will not go overseas? Is this a kind of handout for beggars to the Government for private companies to make money using State funds? No way!Give some thought to Aussie battlers who have lost jobs and businesses first!

alex mateer, 16-07-11 10:22:

I agree with Jason!

amelia hannaford, 16-07-11 09:16:

The Cairns Convention Centre is State Gov owned and funded...like the $8.5 million it received in this year's budget for a refurb. But the company who run the Centre - Ogden IFC - appears to be a private one. IFC is an international company i think. I don't know the answer to this but who gets the profits from that State owned asset?

Public/private partnerships are the future - other more forward thinking - governments have recognised this. The numbers presented by Mr Marriner are small for a government. The economic benefits of his vision for Port Douglas are massive. I think the government should be at least taking a look rather than dismissing it out of hand.

Jason O'Brien, 15-07-11 23:44:

If Mr Marriner wants money for his private investment he should go to the bank like every other private investor in Port Douglas and, for that matter, the world. Why should taxpeyers subsidise his profits? He got private investment from the Chinese. Ask them for more. I shouldn't have to increase state taxes to subsidise his business. That is what he is in effect asking for. I will not support public money going into this.

Jason O'Brien