The City of Newcastle has welcomed a decision by the Appeal Panel of the NSW Civil and Administrative Tribunal (NCAT) to withhold financial details relating to the Newcastle 500 that were subject to a commercial-in-confidence agreement with Supercars and Destination NSW.
In line with the Appeal Panel’s decision, the documents
, including the Services Deed, have been placed on the City’s website but with the dollar amounts redacted.
The Deed was signed in 2016 by then interim CEO Peter Chrystal and sets out the rights and obligations of Supercars and Council as its “service provider”, for the five years of the Newcastle 500.
The document and its content was extensively reported upon by the Newcastle Herald on 24 August this year.
City of Newcastle CEO Jeremy Bath said the City welcomed the Appeal Panel’s decision to respect the need for parts of the documents to remain commercial in confidence.
“The Appeal Panel agreed with City of Newcastle that the Tribunal had made errors of law in the original decision and that dollar figures were not considered in the public interest for release," Mr Bath said.
"The City of Newcastle is committed to open and transparent governance. We had already provided the vast majority of these documents to the Newcastle East Residents Group, but with the dollar amounts redacted.
“We have a legal and commercial responsibility to support commitments made to Supercars and Destination NSW almost two years ago regarding what was commercial in confidence and what was not.”
A Hunter Research Foundation Centre (HRFC) analysis found the inaugural Newcastle 500 boosted the local economy to the tune of $30 million and strengthened the city's capacity to stage major events.
HRFC's research found the Newcastle 500 delivered massive economic benefits within the Newcastle LGA, including:
- $8.94 million in direct expenditure by visitors
- $9.71 million in the flow-on effects
- $4.97 million in direct local expenditure by Supercars
- $6.5 million in flow-on effects of Supercars Australia's local spending
The HRFC report was informed by an analysis of mobile phone data, banking records and business transactions.
The documents may be viewed on the City's Supercars Australia Newcastle 500