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JUNE 5, 2006

Melbourne gets more government cash

The Victorian State Government has agreed to provide an additional $37m over the next four years for major events in the state. Much of this money will go to help funding the Australian Grand Prix at Albert Park. The costs of the race are increasing all the time and extra funding is needed following the decision by Fosters to end its involvement in F1.

Victorian Minister for Tourism and Major Events John Pandazopoulos had been trying to get the Australian Federal Government to contribute towards the cost of staging the event but failed in this task.