Halifax Summit Budget to Be 28 Million

"The $28 million budget for the Halifax Summit is well below the cost of last year's Naples Summit and lower than the $29.3 million price- tag for the 1988 Toronto Summit," stated Len Edwards, the Executive Director of the Halifax Summit Office. "Moreover, the budget for the Halifax Summit includes the cost of hosting a ninth national delegation, the Russian Federation, which did not participate in the Toronto Summit."

The budget of the HSO encompasses all of the operational aspects of the Summit from staffing to printing and security. The Government of Nova Scotia and private sector sponsorships are expected to contribute $1 million and $2.5 million respectively to the costs of the HSO. Absorptions by other federal departments such as National Defence, Solicitor General, Public Works and Government Services Canada as well as Foreign Affairs and International Trade account for a major portion of the HSO budget.

HSO's operational budget does not include peripheral plans such as the Summit Odyssey and special events. These activities will be funded entirely through corporate sponsorship. If sponsorship revenues cannot cover the cost of a particular event, then the event will be scaled down.

The real cost of this year's Halifax Summit is considerably less than the Toronto Summit if the comparison is made in constant dollars. Treasury Board estimates that the $29.3 million price-tag for the 1988 Toronto Summit would be approximated more accurately at $37.1 million using 1995 dollars.

The positive economic benefits to the Halifax-Dartmouth and surrounding area as a result of this year's Summit will be considerable. "HSO estimates that fully 60% of its budget will be spent locally on goods and services ranging from accommodation to printing to the direct employment of residents," noted Malcolm McKechnie, spokesperson for HSO. "The Summit will undoubtably have a positive ripple-effect which will work its way throughout the entire local economy."

Len Edwards also pointed out, "This figure does not include the $7.3 million and 170 jobs which a Provincial impact study estimates the more than 4,000 visiting delegates and media representatives will create as a result of their direct spending during their stay in Halifax- Dartmouth and its surrounding communities."

The G-7 Summit is an annual meeting of the leaders of the world's seven largest industrialized nations as well as representatives of the European Union and the Russian Federation. As a full member of this select multi-national body, Canada is called upon to host this important international event once every seven years. The G-7 was last hosted by Canada in 1988 in the City of Toronto.

"Halifax is one of only fifteen cities over the past two decades to be honoured to host this important gathering of world leaders," added Mr. Edwards. "The positive economic benefits of having the 'eyes of the world' focused on the city, in both the short and long-term, are immeasurable."

For more information contact:

Malcolm McKechnie
Official HSO Spokesperson
(902) 473-7117

Index of News Releases