GSD questions why Gibraltar Savings Bank will be funding new stadium when in 2016 GFA said UEFA would pay

Gibraltar Stadium News

The Opposition is questioning why Gibraltar Savings Bank money is being used to finance the new Football Stadium when the GFA announced in 2016 that it would be paid for by UEFA.

The GSD highlights that at the time, the Government said the stadium would be built at no cost to the taxpayer.

The GSD wants to know if UEFA is still making a contribution to the new stadium, and questions why it is no longer exclusively paying for it, as previously announced.

The Opposition Leader says notwithstanding the popularity of the sport, it’s important to scrutinise what’s been announced and receive assurances on what the benefits to the community will be. Keith Azopardi adds it’s important to ensure that savers deposits at the Gibraltar Saving Bank are being properly used for a clear and guaranteed return.

It says with a public finances crisis, and many Gibraltarians enduring a cost of living crisis, the savings bank money could be put to better use.

The Party also questions how an excessive 8000 seater stadium can be cost effective when only a couple of hundred spectators attend most league games, and a couple of thousand watch the Word Cup Games.

The GSD calls for transparency on the structure of the proposed project as well as the involvement of Community Services and Supplies Limited, a company it refers to as relatively unknown and opaque.

The Party says transparency is needed as to who is building the stadium, at what cost and who is benefiting commercially from the proposed project.