Chamber of Commerce and Industry chief executive John Langoulant has given his support to Treasurer Eric Ripper's decision not to support a government bailout of the Perth Convention Centre.
The full text of an announcement is pasted below
CCI supports Treasurer Eric Ripper's view that it is not for the Government to buy out or bail out the operating leases to the Perth Convention Centre.
The leases were entered into on a fully commercial basis and any risks and losses must remain the responsibility of the private shareholders who stood to gain. They should not be offloaded to the taxpayer.
CCI does not subscribe to KPMG's reported argument for a buy-out that Perth has the only convention centre in Australia that is not government controlled. That other states are saddled with loss-making convention venues is not a reason for WA to be.
The Government, however, was the architect of this venture and needs to look to how it might develop a better and more successful policy for ensuring WA attracts a worthwhile share of international convention business.
In this way, it is in a position to offer a brighter outlook and enhanced future for this particular Western Australian infrastructure asset.