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Melbourne reduces debts

7/08/2008 1:00:00 AM
AFL club Melbourne has wiped more than $2million off their debt at a fundraising dinner.

The dinner was the start of the Demons' debt demolition campaign, in which they are aiming to erase their $5 million debt.

Last night's event was attended by 170 supporters, who each contributed at least $6000, with a total $2,051,000 raised.

''The support we received and the money we raised on the night was sensational. To make such significant inroads into our debt in one night has provided a fantastic start to our debt demolition campaign,'' club president Jim Stynes said.

The Demons will now send a letter to all of their members, asking for further contributions.

Demons co-captain James McDonald said the success of the dinner provided a lift for players.

''I think it gave us a real boost last night and the players that were there were a little bit gobsmacked, I suppose, at the generosity of the supporters and the passion that they're showing,'' he said.

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17/11/2008 | It’s great that Ken Henry wants to cut complexity in the tax system. It’s not so great that he wants changes which will keep marginal tax rates higher than needed and increase the level of government interference in what people choose to do with their money.
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