Olympics gets $60m in first taxpayer cash splash
Brisbane’s Olympic Games organising committee will receive $60m over four years to start its critical work planning for the 2032 event.
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Brisbane’s Olympic Games planning efforts will receive $60m over four years to start the critical work planning for the 2032 event.
In the first major cash injection for the 20320 Olympic Games, the state government will provide $59.3m – including $26.58m in the 2022-23 financial year – for staff, supplies and services for the newly formed Olympic Infrastructure and Precincts Office.
The cash will be used in the interim as the organising committee works to secure third-party funding arrangements so planning work for Brisbane 2032 will be cost neutral.
“The more time we have to adequately plan for Brisbane 2032, the bigger the pay-off for Queensland,” Premier Annastacia Palaszczuk said.
“This funding will help us effectively progress planning, design and delivery of critical infrastructure which will support southeast Queensland’s long-term growth.”
The government will also invest $4.7m per year ongoing for the Brisbane 2032 Taskforce to lead the Queensland Government’s Olympic activities.
It will be used to support preparation of the 2032 Games Legacy Program and planning and design of infrastructure to support the delivery of Brisbane 2032, including venues and athletes’ villages.
The $4.7m will also be used to support priority transport projects delivered in southeast Queensland to manage growth in the region.
Queensland Treasury noted the establishment of the Organising Committee for the Brisbane 2032 Olympic and Paralympic Games in December 2021 and its inaugural meeting of the board in April 2022 were “important milestones” in the state’s Olympic journey.
The state government is continuing negotiations with games partners, including the Commonwealth Government, on funding arrangements for Brisbane 2032.
The budget also provides $31.4m over two years from 2023–24 to extend the 2032 High Performance Strategy to help prepare elite Queensland athletes to succeed at Paris 2024, Los Angeles 2028 and Brisbane 2032.
A further $100m over four years is being invested to establish the Go for Gold Fund – which will improve schools’ sports infrastructure.
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