Editorial: Street racing a buzzy idea, but...

As the new host of the New Zealand round of the V8 Supercar race from 2006, Auckland City has good reason to celebrate. The event, to be staged on the inner-city Victoria Park circuit, will breathe fresh and invigorating life into the area. By day the racing will be a magnet for the country's car-crazy and others attracted by the razzmatazz, and by night Downtown Auckland will buzz with an America's Cup-like atmosphere. That much is certain. What is less certain are the economic benefits of the event, and whether transport alternatives will be acceptable enough to stave off traffic chaos. Assurances must be provided on both if the street race is to be a starter.

The event will mean the closure of motorway links to Fanshawe St, forcing citybound traffic to use the Cook St exit, thereby putting a huge load on the Victoria Park viaduct. Already this is often a bottleneck. But Auckland Mayor John Banks confidently predicts that traffic disruption will be minimised. He points to a strategy for deterring and deferring travel to the central city. Unfortunately, this appears based largely on such wishy-washy foundations as encouraging people to work from home.

More sensibly, there will be a focus on encouraging "travel via different modes" - that is, getting North Shore residents out of their cars and on to buses and ferries. But if this is to work, it will need more than free and frequent buses and ferries. For those using the likes of the Devonport and Birkenhead ferries neighbouring parks will have to be thrown open for free car parking. Quite simply, people will have to be able to get into, and out of, the city with the minimum inconvenience.

To that end, Mr Banks writes of "striking a deal" with the likes of Fullers and Stagecoach. Who, however, will pay the ferryman? Transport operators will not lay on free and frequent services out of the goodness of their hearts. The cost, inevitably, will fall on Auckland City ratepayers.

It would be nice to think that such an expense was factored into a much-quoted 1999 economic impact study that concluded a V8 Supercar street race would produce a direct and indirect benefit to the region of $45 million a year and $315 million over the event's seven-year tenure. But almost certainly it was not.

It seems we will never know. The city council says the feasibility study, which used a model developed by Ernst & Young and the University of Brisbane, is the intellectual property of an Australian promotions company and, thus, unavailable to the public. We do know, however, that the study is hopelessly out of date. And that it was done for another council keen to place itself on the V8 circuit. Its applicability to Auckland may be limited at best. Auckland ratepayers need to see more relevant economic impact numbers if they are to welcome the event with open arms. They must know where the costs lie and how they will be covered.

Those ratepayers might, indeed, be reassured if they knew they were not to bear the entire cost burden. Central city retailers, hoteliers and restaurateurs will benefit hugely from the street race. Yet for many ratepayers it will be a case of all bother, no benefit. In such circumstances, there may be a case for contemplating a short-term levy, perhaps in the form of a sales tax, on inner-city businesses. Those who derived the most from the event would pay a little extra towards its staging.

Mr Banks is right to emphasise the opportunities and exposure that the street race will provide for Auckland and for New Zealand. But many Aucklanders will need considerably more detail before being convinced that it represents "the chequered flag for all". This, the city council must provide. Seven years would be a long time to live with a dreadful mistake.