You may have seen flags up this summer for “Advancing Aberystwyth.” These flags say there are events “supported” by local businesses. Well, by taxes on local businesses.
Did these events get you shopping more? Did the chance to see The Goonies on the big screen bring you over from Birmingham, Boston, or Berlin? Or even Borth or Bow Street?
Whether or not the event was a success in bringing in “more footfall” and more shoppers remains to be seen. What we can calculate is how much it all cost.
According to the Cambrian News, almost £250,000 was raised by levying a tax of 1.25% on local businesses. Almost another 50,000 was raised through Welsh grants.
Excluding any ticket sales or voluntary donations, about how much was raised through local and Welsh taxpayers?
a) 1.25% of 50,000 = 625
b) 1.25% of 250,000 = 3125
c) 250,000 – 50,000 = 200,000
d) 250,000 + 50,000 = 300,000
Okay, now for the spend. Almost 90,000 was spent on activities, including a neon sign, and goonies on an inflatable screen by the castle (which may have increased footfall hours after all the shops were closed.)
That, leaves £105,000 left over. Well, of course, the total from the first part, minus 90,000, is far greater than what’s left over, so some money must have been spent in administration, including the salary of Matthew Newbold.
In it’s first summer, how much was spent on administration, including the salary of Mathew Newbold?
So, was more spent on the actual activities and their promotion, or on administration?
Bonus question: why is Matthew Newbold so happy?