$84m left in Games fund

Contingency cash should be spent on Coast: LNP

AT least $84 million is thought to be left in a Commonwealth Games contingency fund that the Queensland Government must spend on the Gold Coast, warns the State Opposition.

Budget papers and annual statements reveal no details of the funding previously publicised as $100 million for emergencies.

A Bulletin report recently referred to the back-up fund when detailing how the State and Federal governments were fighting over who should pay a $9 million shortfall for security and drug testing services.

The Opposition says that even allowing for the $9 million and other unforeseen costing, there would still be more than $80 million of the funds transferred to the Games from Queensland Treasury.

“This is just more evidence of Labor shortchanging the Gold Coast,” Opposition Leader Deb Frecklington said. “Any money left in the contingency fund for the Commonwealth Games should be spent on the Gold Coast.

“It could be used for important infrastructure upgrades like fast-tracking the second M1 or airconditioning every state school classroom.”

Businesses that suffered a downturn in trade before and during the Games have called for compensation.

Deputy Premier and Treasurer Jackie Trad confirmed the $100 million contingency fund was created to ensure there were funds for unforeseen expenditure with the delivery of the Games.

She said the final position of the GC2018 contingency fund would be known when all Games partners finalised event expenditure and reporting.

“The final cost of delivering the Games will be reported in the post-Games report expected in early 2019,” Ms Trad told the Bulletin.

“We will ensure that any potential future drawdowns from the fund are expended appropriately in the interests of Queenslanders.”

Ms Trad said the Games had led to the Government providing $1.5 billion to community and sporting infrastructure, largely on the Glitter Strip.

She rejected Opposition claims the Gold Coast had been shortchanged.

The Games had been the catalyst for critical legacy transport infrastructure including light rail stage two, the Coomera to Helensvale heavy rail duplication and $330 million for local road upgrades, she said.

“Under the LNP there may not have even been a Commonwealth Games, let alone a contingency fund, because we know they sought legal advice to scrap the 2018 Gold Cost Commonwealth Games entirely.”