Federal government to put half a billion dollars into Brisbane Olympics over four years

Half a billion dollars will be poured into sporting infrastructure over the next four years as the federal government vows the Brisbane 2032 Olympic and Paralympic Games will deliver a “lasting legacy” for the nation.

Half a billion dollars will be poured into sporting infrastructure in Queensland over the next four years as the federal government vows the Brisbane 2032 Olympic and Paralympic Games will deliver a “lasting legacy” for the nation.

As part of the Commonwealth’s contribution to a $7 billion shared funding deal for Games infrastructure over the next decade, the budget handed down by Treasurer Jim Chalmers on Tuesday will allocate $504.6 million to the Games over four years, including $16.8 million in 2023-24, followed by $34.8m the next year, then $133.9m and finally $319.1 million in 2026-27.

Mr Chalmers said his second federal budget was about “creating more opportunities for more people in more parts of Australia and laying the foundations for growth”.

“The Olympic and Paralympic Games are absolutely central to that plan,” he said.

“This is our big opportunity to showcase our country and our community and put our best foot forward in what will be a defining decade for our country.”

Treasurer Jim Chalmers is backing the Brisbane Olympics in a big way. Picture: NCA NewsWire / Martin Ollman

Mr Chalmers said the Games were “so much more than what you see in the pool or on the track”.

“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 investment over the four-year forward estimates follow a 10-year $7 billion joint funding deal inked between the federal and state government in February for major venues for the Olympics and Paralympics.

Ariarne Titmus is Australia’s golden girl. Who will it be in 2032? Picture: Michael Klein

The federal government will provide a capped contribution of $2.5bn for the Brisbane Arena development and up to $935m for 16 additional venues.

Sport Minister Anika Wells said the government’s investment would position the Brisbane 2032 Games as a “platform to boost and inspire more community participation in sport” and “promote an inclusive environment where women, girls and Australians of all abilities feel welcome”.

“Infrastructure investments like these will help Brisbane 2032 become the greatest celebration of sport in Australian history,” she said.

“The Olympic and Paralympic Games will change lives and leave an unrivalled legacy not just for Queensland but for Australia.”

Rohan Browning is the nation’s top sprinter ahead of the 2024 Paris Olympics.

Infrastructure Minister Catherine King said Brisbane 2032 would be another opportunity to “show what Australia can do,” while also providing a “lasting benefit” to the nation.

“Our investment in the budget reflects how important the Olympics and Paralympics will be for Australia over the next decade,” she said.

“With a strong focus on infrastructure that delivers a long term legacy for our community and our economy, this is an investment in the future.

“Better infrastructure, and building in a lower emissions environment, will not only mean the best for the athletes of the world, but that communities will have great spaces and places to use into the future.”