Holt gets his sums wrong.
Author: Colin Holt
Published on: 05-March-2010
In a recent speech to the West Australian Legislative Council, Colin Holt, Member for the South West, made an arithmetic faux pas. He was updating the House on the Margaret River Cow Parade after he attended the recent launch of this international art event.
“I was telling the house that a $50,000 dollar investment from the Royalties for Regions Program is predicted to generate a $25 million injection into the local economy,” said Mr Holt. “I said it was a 20 to 1 return on investment for the State Government, when it is actually a 500 to 1 return. I got those sums wrong, but it still adds up to a fantastic outcome for the South West.”
The Royalties for Regions funding is only a small part of the program with the majority of funding for the CowParade coming from local sponsorship and support.
The Augusta Margaret River Tourism Association should again be congratulated for gathering so much support to bring this international event to regional WA. The event is gaining momentum and is now in full swing with the decorative cows placed around the Margaret River area.
In his address, Mr Holt also invited all Members of Parliament to get their CowParade map and go and see this fantastic community art event for themselves.
“I am sure that once they experience the Cows for themselves, they too will get behind this brilliant project” he said.
