Marc Bean has welcomed the “excitement and entertainment” surrounding the Louis Vuitton America’s Cup World Series Bermuda and said that he hoped the Government would now report the economic impact of the weekend’s event “transparently and with accountability”.

The PLP leader said that he had heard positive reports and concerns after the event.

“This weekend proved that the America’s Cup and Louis Vuitton series is very exciting and entertaining, but the PLP’s responsibility is to ensure it is about the economics,” he said.

“While the excitement and entertainment is always a test to any event — and this event is a very significant event — the rubber hits the road when we speak for the economics. So we will be interested in seeing the actual expenditures in terms of taxpayer funds for the event, so we can see if there was a return on investment.

“If they do this, then we can also potentially learn from the experience. I hope that the Government will report the economic impact transparently and with accountability for any spending of taxpayers’ money.

“Then the PLP will be able to give an opinion or position after we received the economic breakdown. The economic benefits to the country still have to be calculated.”

Mr Bean, who could not attend the festivities on Front Street because he was unwell, added: “The race itself was a success under the circumstances, in that the weather didn’t allow for racing on Saturday. But they were able to squeeze in three races on the Sunday, which were very exciting. I was able to see some of it on TV.

“I saw the crash and the way that Artemis responded will be something that will become legendary in America’s Cup racing, I am sure, because the crew showed all the perseverance and discipline and calmness in adversity and they transformed it into a victory. That was very good for the sport itself. The sailing was a very good spectacle.”