The America's Cup bill keeps racking up

And this is one reason I wasn't celebrating the Ministry of Yachting's America's Cup last win: because these gorgeous bastards will now have their hands in our pockets forever.

The latest cost to the honest taxpayer/ratepayer: upwards of $150 million (plus stuff-ups) to build them a home on the water.

Oh yes, folk will point to studies saying if "we" spend $150 million then "we" will get $300 million back.

Quite apart from the returns rarely if ever being quite as juicy as those studies ever show, the bare fact remains that the "we" in the paragraph above is for the most part not the same people. That is to say, those enjoying the most spectacular returns are rarely those making the most hard-won forced contribution.

To put it another way: is there a reason that those who do except a great return from the Cup shouldn't be the ones who pay? Because if that is their expectation, they would (or should) be quite happy to pay voluntarily, shouldn't they.

Anything else would just be corporate welfare.

And I thought a Labour Government was supposed to be against that.

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