Grand Final eve public holiday could cost $800m, says Treasurer Treasurer Michael O' Brien has said the Napthine Government estimated an additional public holiday would cost Victoria's economy hundreds of millions of dollars, based on lost production. THE debate over an AFL Grand Final public holiday has flared again as new government figures show it could cost the economy about $800 million. Opposition Leader Daniel Andrews has pledged to create the extra holiday, on the Friday before the Grand Final, if Labor is elected next year. But Treasurer Michael O'Brien said the plan was "economically reckless and damaging," and lost productivity and increased penalty rates would hurt the state. Labor hit back last night, pledging to stick by the plan and pointing out its tourism benefits. Mr O'Brien said the Napthine Government estimated an additional public holiday would cost Victoria's economy hundreds of millions of dollars, based on lost production. Government modelling shows that if all production was lost then the economy would suffer a jolt of almost $1.6 billion. A more conservative estimate of the impact of the public holiday shows an $800 million loss. "The cost to the public sector wage bill alone is estimated to be around $20 million," Mr O'Brien said. Labor's policy would add to costs for our public hospitals, public transport operators and small businesses right across Victoria. Mr O'Brien said the plan would also cause disappointment for interstate visitors in the lead up to the Grand Final. "Imagine spending three days on a bus, crossing the Nullarbor to arrive in Victoria only to find the shops, cafes and pubs are closed because they cannot afford to pay public holiday penalty rates," he said. Victoria should be open for business and capitalising on this wonderful sporting and tourism occasion Opposition sport spokesman John Eren hit back, saying there would be strong tourism benefits from a long weekend. "The Napthine Government is the Grinch that wants to kill-off any tourism benefits Grand Final Friday will have for Melbourne, and particularly regional Victoria," Mr Eren said. Melbourne's sporting tourism meccas have already suffered a downturn in attendances and revenue under Denis Napthine and Grand Final Friday would help lift sport related tourism.