Back in June, we reported on a decision by the Budapest authorities to move in and prevent the city’s historic but financially struggling amusement park Vidámpark (“Happy Park”) from having to shut its gates. Now, via ingatlanhirek.hu, I see that our Town Elders have followed up with some concrete proposals to keep the park in business.
First, it seems they have decided to provide the park Ft 1 billion (around €3.5 million) worth of financial aid, which would be doled out under a trio of different scenarios. One involves putting the heavily-indebted Budapesti Vidám Park Zrt – the city-owned company that operates the park – into bankruptcy by the end of the year, after which a new organization would be established to perform its tasks. Another would be to merge the park with the adjacent Budapest Zoo. The third concept – which I have a hunch will be the one that prevails – would involve delaying the decision until the end of September 2011. Each option would come with a different schedule of subsidy/bailout payments.
Unsurprisingly, the one option that seems not to have crossed anyone’s mind is (at least in my mind) the best. Why not just put the whole thing up for sale, or at least a long-term private management contract?
I know that in Hungary (and Europe in general) the thought of a “historic public place” like Vidámpark into private hands seems outlandish. But why should it? Is running an amusement park rides really one of the core responsibilities of the public sector? And even if one likes the idea of keeping Vidámpark within the empire of publicly-owned businesses, does anyone really think that an amusement park run by the political class is likely to be more amusing than one run by a company in the entertainment business?
This last question also gives a hint as to why Vidámpark is perpetually stuck in the haunted house of near-insolvency. It is just not all that appealing to its target market, even with lots of spending on new rides and so on.
But of course, it’s not for the benefit of the children that the local political class is desperate to keep Vidámpark as an arm of the city government. Though the kids do get to play their part, by eventually paying off all its debts, plus interest. Ugh.