Queensland and federal governments strike funding deal for 2032 Olympic and Paralympic Games
Billions of dollars in federal funds initially earmarked for an indoor arena will now go towards minor venues and the new stadium at Victoria Park.
Under the new deal, the state and Commonwealth will jointly pay for the construction of minor venues through a 50:50 funding split.
About $1.2 billion in federal funds will also go to the new stadium at Victoria Park, while $584 million will be held in reserve to go towards the stadium or minor venues.
Deputy Premier Jarrod Bleijie said the deal delivered certainty for infrastructure delivery for the Brisbane Games.
"Today's landmark agreement is the beginning of a new partnership that sets the pathway to deliver 2032 as the best Games ever," he said.
The state and Commonwealth will stick to the $7.1 billion funding envelope they had previously agreed to.
The federal government will continue to chip in $3.435 billion, while the Queensland government will pay the remainder.
Federal Infrastructure Minister Catherine King described the federal government's investment as "unprecedented".
"Our agreement with Queensland will see both governments work together to deliver 16 new and upgraded venues across the state and a new Brisbane stadium at Victoria Park," she said.
The Commonwealth had previously committed $2.5 billion of its funding towards the construction of a new indoor arena at Roma Street.
The new LNP state government scrapped the proposal several months ago, instead announcing its desire to deliver a privately-backed indoor arena at Woolloongabba.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
ABC News
30 minutes ago
- ABC News
Santos considering plans to 'simplify' SA's Port Bonython site, putting jobs at risk says union
Santos Limited is reviewing its operations at its Port Bonython site to see how it can "simplify" them, putting a number of local jobs at risk. The facility is located about 400 kilometres north-west of Adelaide and 30 kilometres north-east of Whyalla, in the Upper Spencer Gulf. In a statement, a Santos spokesperson said it "continuously assesses options to improve the long-term sustainability" of its operations. "Santos is currently considering a proposal to simplify operations at Port Bonython and, as part of the process, is consulting with staff before a final decision is made," they said. "This proposal is part of our long-term plan to keep our Cooper Basin activities profitable while actively reducing emissions from our operations in line with our safeguard mechanism obligations. "No decisions have been made yet." When asked by the ABC if jobs would be at risk, Santos Limited did not comment. Around 50 people work at the Port Bonython site, which is a gas fractionation plant with a deep-water port and a storage facility. Crude and naphtha products processed there are shipped to be used in fuels and manufacturing in energy markets around Australia and Asia. Australian Workers Union (AWU) South Australia branch secretary Gary Henderson said Santos informed it earlier this week that the company had begun assessing its Port Bonython operations. "There's no indication in the exact amount of actual jobs [that could be lost]," Mr Henderson said. "But my understanding is that out of the process, if it is approved, there will be excess employees … at the Port Bonython site. "Santos have said that their first port of call will be to redeploy those people … but there could be some redundancies." Mr Henderson said the consultation process would run until the end of the month, but there was no guarantee it would go the way workers hoped. "They [Santos] just need to consider it as part of their decision-making process," he said. Mr Henderson said workers were fearful, but it was not all "doom and gloom". "I've spoken to a few of our members down there … they're a little bit anxious because they're not quite sure about who's going to get a job, where they're going to be working in the future, those kinds of things," he said. "But it's a pretty long process, and my understanding is that if they [Santos] do enact the change, it won't go ahead until about this time next year. "No job losses in any site is a good thing by any means at all, but it's just about adapting as well."
News.com.au
41 minutes ago
- News.com.au
‘No consideration': Anthony Albanese rejects GST increase in ambitious outline of Labor's second term agenda
Anthony Albanese has ruled out increasing to the goods and services tax (GST), as Labor says it will champion small business and the private sector to boost productivity and encourage economic growth Outlining his economic vision for his second term of government at Australia's Economic Outlook in Sydney, which was co-hosted by The Australian and Sky News, the Prime Minister said consumption taxes like GST did not fit in with Labor's agenda. The 10 per cent tax is applied to most goods and services and has been set at 10 per cent since it was introduced in 2000. 'It's not something that we have given any consideration to,' he told Sky's Andrew Clennell. 'I'm a supporter of progressive taxation. Consumption taxes, by definition, are regressive in their nature. So that's something that you know doesn't fit with the agenda.' While he didn't commit to specific changes on income tax, Mr Albanese said it would also be his preference that 'income taxes (are) as low as possible, and wages (are) as high as possible'. Mr Albanese also said tax reform would play an 'important part' in ensuring the private sector and small business was equipped to drive economic growth and jobs, with the Labor acknowledging that 'government should be a driver of growth – but not the driver of growth'. Adapting and developing new technologies like AI, 'eliminating frustrating overlap' between local, state and federal regulations, strengthening domestic supply chains and ensuring female participation in the workforce were other key priorities. 'Our government wants you to be able to resume your rightful place as the primary source of growth in our economy,' he said. The renewed commitment follows criticisms from the business community that Labor's first-term industrial relations policies like Same Job Same Pay had hampered businesses growth. However Mr Albanese called on business leaders, civil society and union chiefs, to work together at Labor's upcoming productivity round table in August in order to 'build broad agreement for action'. 'Because very often the public debate about change in our economy is conducted only in terms of dire warnings about what the consequences for Australia will be if we get it wrong,' he said. 'In order to build the broadest possible support for substantive economic reform, we should focus on what we can achieve by getting it right.' In response to the speech, Coalition spokesman for small business Tim Wilson was critical of the commitment and called on Labor to scrap Labor's flagged super tax. When asked during the event, Mr Albanese continued to back the super tax, stating Labor had put the tax forward in its last term, and that the tax would impact just 'half a per cent of people'. 'The only way he is going to be able to deliver for small business is to actually address the root cause of the problems,' he said, naming issues like over-regulation, and reducing taxes,' he told Sky. 'A really simple good way to do it is to stop his plan for a family savings tax on unrealised capital gains, which explicitly hits unsold assets in superannuation, particularly for small businesses.'
News.com.au
an hour ago
- News.com.au
Oh Too Good becomes social media sensation ahead of Winter Championship Final bid at Flemington
Oh Too Good could inspire a rebrand of the Winx Sports Bar in Bali on Saturday, with victory in the Listed Winter Championship Series Final (1600m) at Flemington. One-horse trainer Kevin Daffy, wife Christine and daughters Jade and Amber will be trackside while Rick Bayliss, a long-time friend and part-owner of Oh Too Good, will be cheering from afar. 'He'll be watching it from the Winx (Sports) Bar in Bali (Seminyak) … hopefully we might be able to rename it to the Oh Too Good Bar tomorrow,' Daffy said. 'The 16 of them (Bayliss family) are going to be cheering her on from there.' Oh Too Good is $2.80 favourite to win the Listed Winter Championship Series Final from Jimmy The Bear ($6), Cafe Millenium ($6.50) and Yellow Sam ($9.50). Daffy, 'Australia's smallest trainer', was compelled to target the Winter Championship after Oh Too Good won brilliantly last start at Flemington. Jimmy The Bear, who finished second, has won since. 'I guess you can't get much smaller than one horse,' Daffy laughed. 'It's a bit of a novelty for some people … they can't believe it really, it is quite unique, quite special.' Oh Too Good has earned $569,450 with five wins and five minor places from 11 starts. The five-year-old, affectionately known as 'GiGi' at home, has also become a social media sensation, thanks to Daffy's eldest daughter, Jade. 'Jade started a bit of social media with her this week, and it went nuts. She's quite clever,' Daffy said. 'She came up with a couple cute little videos on Instagram and TikTok … one had 50,000 views and 5000 likes, with people from all over the world commenting.' @ohtoogoodracehorse Meet GiGi (Oh Too Good) 🐎✨ She's fiery, unapologetic and has that 'main character energy' that lights up a track! 🩷💛 #horseracing #australianhorseracing #winterracing #horsetraining #horses #horse #narratortrend #narrator #narration #fy #fypage #ohtoogood #horsesoftiktok #horseriding #horsetok #horselover #racing #thoroughbred #trending #narration #viral #viraltiktok #viralvideo #viralvideos ♬ original sound - Oh Too Good The viral 72-second clip on the Ohtoogoodracehorse TikTok account celebrates Daffy's dedication to the 'diva' with behind the scenes footage and a witty script. 'GiGi only likes two things,' the video voiceover states. 'Winning (and) Kevin … everyone else, tolerated at best.' Daffy is rarely too far from the mare. 'No one else touches this horse, ever, that's why I never let her out of my sight,' Daffy said. 'I do hire a strapper to come with me race day but that's more to go and get the saddle, run the colours up, and help do a few little things I need done. 'She frets if I get too far away from her … she's getting better. When she first went to the races I couldn't walk across from the stall to the fence to talk to anybody, she wouldn't be happy. 'She does at least let me do that a bit now.' • Despite saddling the favourite, Daffy has respect for the entire field on Saturday. 'No matter what the market says, they're all good horses,' Daffy said. 'I'd be foolish to think I'd be going to a Listed race at Flemington with confidence of winning … I'm happy I'm going there with a horse in the best shape, as happy and as healthy as I could have her. 'With some luck in running, she'll definitely be right in the finish and hopefully winning.' He also praised jockey Ben Allen for his commitment to stick with Oh Too Good. Allen brought forward a suspension, had to forgo bulk rides to do so, and all but made the 54kg cut. 'He will be riding her a little bit over the 54kg … that will depend on how he is tomorrow.' Daffy said. 'She could potentially be carrying 55kg, worst case. He's been so committed to wanting to ride her, I didn't ask him to do that because I know how difficult it is for jockeys but he wanted to do it. 'Set himself the task to get down to ride … I really appreciate that and hopefully she can repay him.'
