20 October 1973: The Queen opens the Sydney Opera House
Queen Elizabeth officially opened the much-delayed and massively over-budget Sydney Opera House on this day in 1973.
Danish architect Jørn Utzon's competition-winning design for the Sydney Opera House, complete with iconic rooftop “shells”, pushed the boundaries of what could, or rather couldn't, be built in the 1950s and 1960s to the limit. As The Times journalist Murray Sayle reported on 20 October 1973, the day the Queen opened the Sydney Opera House, “Utzon's shells simply could not be built by twentieth-century technology – a humbling reminder that there are still some things on earth beyond our capabilities”.
Necessity being the mother of invention, a solution was eventually found. The rooftop concrete shells were “derived” from giant spheres, and the project was able to go ahead. But it had been a close call. “The whole project nearly foundered on the concrete shells”, wrote Sayle. But it was, as it turned out, far from being the only bump in the road.
Joseph Cahill, premier of the New South Wales government, had thrown his support behind the project to build a concert venue in Sydney. But his critics saw it as a thinly veiled vanity project that would end up massively exceeding its £3.5m budget, and deadline. They named it “Taj Cahill”.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Utzon became so fed up with the government's interventions in the design and building that he resigned in 1966. By then, the project was already running behind schedule and the costs were mounting. It was only after 14 years, 7 months, and 18 days – and £62m – that the Sydney Opera House was finally ready for Her Majesty.
On a “warm, but very windy spring day”, Aboriginal actor Ben Blakeney scaled the Sydney Opera House's roof to give an oration on his people's ties to the site at Bennelong Point. Then, before a televised audience of 300 million, it was time for the Queen of Australia to speak.
She recognised that the project had been dogged by controversy, but that there was nothing wrong with that. After all, the building of the pyramids had been controversial, “yet they stand today 4,000 years later acknowledged as one of the wonders of the world. I believe this will be so for the Sydney Opera House”, she said.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.

-
26 million Brits at risk of retirement shortfall if state pension triple lock were to be scrappedCurrent projections of pensioner poverty assume the state pension triple lock will be in place for the next 50 years. Critics say this is unlikely and revised figures showing pension undersaving among millions more people give a truer picture of the crisis
-
Reeves calls on regulator to investigate steep private dental chargesThe chancellor has asked the Competition and Markets Authority (CMA) to look into the high costs of dental treatment amid concerns over rising prices which essentially locks people out of the system
-
31 August 1957: the Federation of Malaya declares independence from the UKFeatures On this day in 1957, after ten years of preparation, the Federation of Malaya became an independent nation.
-
13 April 1960: the first satellite navigation system is launchedFeatures On this day in 1960, Nasa sent the Transit 1B satellite into orbit to provide positioning for the US Navy’s fleet of Polaris ballistic missile submarines.
-
9 April 1838: National Gallery opens in Trafalgar SquareFeatures On this day in 1838, William Wilkins’ new National Gallery building in Trafalgar Square opened to the public.
-
3 March 1962: British Antarctic Territory is created
Features On this day in 1962, Britain formed the British Antarctic Territory administered from the Falkland Islands.
-
10 March 2000: the dotcom bubble peaks
Features Tech mania fanned by the dawning of the internet age inflated the dotcom bubble to maximum extent, on this day in 2000.
-
9 March 1776: Adam Smith publishes 'The Wealth of Nations'
Features On this day in 1776, Adam Smith, the “father of modern economics”, published his hugely influential book The Wealth of Nations.
-
8 March 1817: the New York Stock Exchange is formedFeatures On this day in 1817, a group of brokers moved out of a New York coffee house to form what would become the biggest stock exchange in the world.
-
7 March 1969: Queen Elizabeth II officially opens the Victoria Line
Features On this day in 1969, Queen Elizabeth II took only her second trip on the tube to officially open the underground’s newest line – the Victoria Line.