A new report estimates that the marriage equality plebiscite will cost Australia $525 million.

A new report released by PricewaterhouseCoopers Australia has estimated that the proposed marriage equality plebiscite will cost triple the amount of the federal government’s estimate. The referendum cost will be around $525m, with the forecast of $160m only covering the cost of staging the plebiscite.

PwC found that the public funding for both the ‘yes’ and ‘no’ arguments would add around $66m to the bill, and the time it will take for people to vote will cause $281m to be surrendered from the national economy due to lost production. The company also factored in $20m for mental health harm to LGBT Australians.

PwC Australia CEO Luke Sayers said, “The real costs to government, the economy and community members to hold a stand-alone plebiscite are more than three times higher than the numbers commonly quoted. Total economic costs have not been considered before and should be part of the debate on the best way to resolve this issue.”

Australian Marriage Equality National Director Rodney Croome said, “Every government minister must read this report before the cabinet considers legislation for a plebiscite. The more information we get about the plebiscite, the clearer it becomes that it’s just an incredibly costly and harmful opinion poll.”

The federal government is still preparing details for the proposed plebiscite and has yet to release any final details.