Brisbane 2032’s $5bn budget not that much: Palaszczuk
QUEENSLAND premier Annastacia Palaszczuk says the Brisbane 2032 Olympic and Paralympic Games operating budget of $5bn is “not a huge amount”, reassuring taxpayers that the Games formula is to be cost-neutral.
But the manoeuvring between Queensland and Canberra over the big-ticket items to transform southeast Queensland
and help prop up the Games is just at the start line.
Just who is going to pay for the $1bn redevelopment of the Gabba, the centrepiece of the Brisbane 2032 Olympic and Paralympic Games?
Hours after impressing the International Olympic Committee and winning the Games, Ms Palaszczuk said, “Of course there is the joint funding for the Gabba redevelopment and Brisbane Live” suggesting that the commonwealth has agreed to stump up billions, not just for one big venue, but two.
The Gabba is slated to host the ceremonies and the track and field events at the Games, while Brisbane Live, an alreadyannounced $2.1bn, 18,000-seat indoor entertainment venue, will double up for the swimming.
“What we have agreed with the federal government is to match some vital infrastructure which the southeast of our state already needs,” Ms Palaszczuk said.
“I sought that commitment before we went to the next stage (of bidding) that there would be a 50 per cent contribution between the state and the federal governments and of course the councils (of southeast Queensland) are putting in money as well. We have quite a large $14bn infrastructure budget this year alone and $50bn over four years in infrastructure.
“So the commitment for the federal government and the state is not huge when you compare to our existing budgets so I’m very confident that is part of our ongoing planning.”
Australian Olympic Committee president John Coates said the $5bn organisation budget “will not be a cost to the ratepayers or the taxpayers”.
Ticket buyers, sponsors and the IOC will fund the operational costs of the Games.