Billion Dollar Funding For Brisbane Olympics To Be Named In Federal Budget
Over four year period
Around one billion dollars is set to be spent on sporting infrastructure in Queensland in the lead up to the 2032 Brisbane Olympic and Paralympic games.
The funding is set to be announced by Treasurer Jim Chalmers at Tuesday’s federal budget meeting.
The Budget will see $504.6 million allocated to the Games over a four year period including $16.8 million over 2023 and 2024, $34.8 million in 2025, followed by $133.9 million and $319.1 million over 2026 and 2027.
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Mr Chalmers said this year’s federal Budget meeting will focus on providing more opportunities for Australians.
“Our investment in the budget is a down payment on the jobs and opportunities of the future for our state and for our country – an investment that will start paying off well before the first starters’ gun sounds and long after the final race has been run,” he said.
“In only our second budget we’ve done something the Coalition never could – deliver on our promise to fund the Games and that’s only possibly thanks to our responsible fiscal approach which is helping us make strong inroads in cleaning up the mess they left behind.”
The billion-dollar contribution follows a 10-year $7 billion joint funding deal between the state and federal governments in establishing a number of venues to support the Olympic and Paralympic games.
This includes a $2.5 billion contribution for the Brisbane Arena development and another $935 million for 16 associated venues.
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