Same Sex marriage: the snubbed cash cow?

As the election campaign hots up, same sex marriage will be at the helm of debate. With campaigns such as vote4love rallying the troops and early indicators suggesting that legalisation is in the post; is it time for the Government to wake up and see a lucrative market waiting to generate revenue?

So, here we are days from the election and same sex marriage is dominating a number of key debates as it is pushed to the frontline of politics by tireless campaigners. In the census of 2011 it was recorded that over 33000 couples were registered as same sex and reportedly between 5-10% of the Australian population is registered LGBT (although this statistic is nowhere near exhaustive as it does not allow for younger individuals or people who will not register as LGBT). Any analyst would agree that this is a sizable proportion of people and ultimately will account for a substantial amount of revenue. With this in mind, does it not then become a moot point for any political party to represent the needs and wants of this section of the Australian population?

Maybe not…

When South Australia became the stage for a school yard fight between labour backbencher Susan Cole’s same sex marriage bill and the opposition, the LGBT community sighed on the sidelines as publicised punches were thrown in a game of political one-up man- ship. The bill failed, some MPS were absent and labour was accused of playing a spurious vote garnering card. And just like a car trapped child on route to a holiday destination, the gay community cried ‘are we not there yet?’

It seems like an incredibly retrograde step for any government not to see the potential of legalising same sex marriage even if they can’t already see the civil liberty need. In an election where economic growth is the proverbial bone of contention, alienating the needs of a portion of the voting public would seem imprudent. But then again this is politics so let’s not lift our jaws from shock. Why would they want to do the logical thing?

It is estimated that the Australian wedding industry is worth over $2 billion dollars annually; would it not follow that this statistic would increase dramatically with the legalisation of same sex marriage? Currently this revenue is being invested in markets abroad as couples have to travel from Australia in order to marry. Would it not then make more sense to have this revenue poured into the coffers of the Australian economy?

This year same sex marriage became law in New Zealand and at the wedding of former national footballers Tash Vitali and Melissa Ray, it appeared that no expense had been spared. Hurrah shouted society; hurrah shouted the fiscal policy makers as they made their way to the bank. Even good old Britain has jumped on board HMS common sense and the ever lavish Mr Elton John plans to renew his vows in Britain in another ceremony. George Osbourne will be ecstatic, after all reportedly his 2005 civil ceremony to David Furnish cost a whopping million plus. Elton John aside, people want to celebrate their wedding so they are prepared to spend. This is not projection; this is reality. However there are naysayers who have suggested that the financial impact of same sex marriage will not be significant. Well Australian businesses are forecasting differently.

After a little research, I found I could have a beautiful hers and hers Honolulu cake topper (which I gifted to a dear Scottish friend for her civil ceremony in Edinburgh) as well as be provided with beautiful wedding bands. One jeweller, Joseph George from Josephgeorge.com.au has seen a way of supporting the same sex marriage vote as well as diversifying his business.

He said ‘It felt like a completely organic business step. Why should I not create beautiful engagement rings for men and women? I seen the business benefit for my company and it seemed like a small step I could make to support the campaign. I am not the only business that has seen this niche.’

Right he is. As more and more countries push for LGBT rights and issues of equality are regularly seen in the news, what entrepreneur wouldn’t pick up on this? Should the Government not be pushing to kill two birds with one large glittering engagement rock?

No, same sex marriage will not solve Australia’s economic woes. No the church aisle is not plain sailing for same sex marriage or LGBT concerns but surely in a forward thinking country with a gay history to be proud of, should we not celebrate by finally recognising gay relationships as legitimate?

At a time when we send our hearts to the Russian gay community, would the best solidarity not be to show our support by allowing the champagne to flow as we sign the marriage register? Perhaps then, if our Government shows the simplicity of yes, all other oppressive gay forces will start to think. And if the civil liberty angle doesn’t sell them, maybe the financial one will.