This weekend’s Grand Prix is expected to cost Australian taxpayers $50.7 million.
"The government has to be economically rational,” said Peter Logan from the group Save Albert Park. “That is pretty hard to do when they are not telling the truth about the event. They are making up these figures of economics."
The Victorian government claims the cost is worth it because the annual economic impact of the race is between $32 million and $39 million.
Victoria's Minister for Tourism and Major Events told SBS the race generates significant economic, social and cultural benefits including job creation, industry development, inward investment and tourism.
The race has also been dogged by the controversy surrounding its mastermind, Bernie Ecclestone, who is set to face court in Germany on bribery charges.
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