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Australian Industry Group estimates grand final public holiday will cost Victoria around $1 billion

Friday’s public holiday for the grand final will cost Victoria around $1 billion, according to Australian Industry officials.

The holiday, introduced by the Andrews Government last year, was met with fierce criticism from small business owners at the time.

There is mixed opinion again.

Tim Piper, the Victorian Head of the Australian Industry Group, told Neil Mitchell there was no doubt it would hit the economy.

‘It’s guessed that it will cost us almost a billion dollars,’ he said on 3AW Mornings.

‘Lost production is about $700 million – and that’s a conservative figure.

‘And the cost of additional wages is $250 million plus.

‘It’s a very expensive public holiday we’re having.’

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