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We use this expression to say that someone has wasted something - normally time, money or effort.
Written: No
Spoken: No
Formal: No
Informal: Yes
Example 1
You bought a new outfit specially - and now they have cancelled the wedding!
I know. That's £200 down the drain.
Example 2
We all worked so hard preparing for the conference, now we can't go?
Yes. That's a week's work down the drain.
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