A PEAK business body has weighed into the Albury Gold Cup half-day holiday debate by urging its members to inform council of the economic downside of them shutting for the event.
The Australian Industry Group has revealed since the half-day holiday's inception it has put submissions to council opposing it due to the negative impact to industry.
Albury Council this week committed to carrying out community and business consultation to determine its ongoing support for the half-day holiday.
AI Group regional manager Tim Farrah said to date only the economic benefits including increased visitation and been put forward and not the downsides of businesses being closed.
"We need to know the true economic situation," he said.
"It is imperative you know what your expenses are as well as your income.
"It is incumbent on council to make sure the community knows the full story."
"It is totally reasonable for any cross benefit analysis to include the cost to employers," he said.
"But I don't see any scenario where I wouldn't support the Gold Cup half-day holiday as I've always strongly supported."
Mr Farrah said he was confident the council consultation was robust enough to get the required feedback.
"It does give people an opportunity to make comment," he said.
"If it comes back and there is a positive economic impact once you take into account how much it costs business, then that is fantastic.
"But we just need to know that.
"In relative terms the amount of businesses that directly benefit from the half-day holiday would be very, very small compared to the amount of businesses that are negatively impacted.
"The amount of restaurants, pubs, motels compared to the amount of accountants, solicitors, factories, freight companies is a very small number."
Mr Farrah is hoping council will carry out a full economic impact assessment which includes the cost of wages paid at holiday rates to those businesses that must stay open but do not receive direct benefit from the event.
The council will re-visit the Gold Cup half-day holiday issue next month.