Chalmers reluctant to give Brisbane Olympics more cash

Treasurer Jim Chalmers says it was hard enough finding $3.5bn in federal taxpayers’ money for the Brisbane 2032 Olympics. It’s not his intention to cough up any more cash when the Queensland government reveals its Games plan to him this week.

Treasurer Jim Chalmers MP during his pre-budget address in Brisbane, in which he said his preference was not to increase federal funding for the Brisbane 2032 Olympics. Picture: Tertius Pickard/NewsWire

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Jim Chalmers says it’s not his “intention” or “preference” to tip any more federal taxpayers’ money into the Brisbane 2032 Olympics, despite increasing concerns about a blowout in the cost of building Games infrastructure.

The federal government has promised to spend $3.5bn on infrastructure for the Brisbane Olympics, including $2.5bn for the Brisbane Arena swimming venue and $1bn for smaller sites.

But sources have told The Australian Olympics infrastructure costs have dramatically risen from the $7.1bn forecast.

The Queensland LNP government will announce its plan for the Games on Tuesday March 25 – the same day Dr Chalmers is due to deliver the federal budget – after Premier David Crisafulli repeatedly promised not to build a new Olympic stadium.

On March 8, the state government received the final report from the Games Independent Infrastructure Co-ordination Authority, which is understood to have recommended a new stadium be built at Victoria Park.

It is also believed to have recommended the Brisbane Arena be shifted from its current planned site at the Roma Street Parklands to the former GoPrint site adjacent to the Gabba, on the other side of the Brisbane River.

In Brisbane, Dr Chalmers said the Crisafulli government had not asked for more funds and had not shared the GIICA report or briefed the federal government on any changes to the plan.

“Our preference, our intention, is to stick to that $3.5bn we’re providing to the Olympics and as far as I know we haven’t been asked to do anything different … it’s hard to find $3.5bn, there’s not a lot of spare cash flowing around,” Dr Chalmers said.

A Crisafulli government spokeswoman said the commonwealth would be consulted “as an important funding partner for the 2032 Games” this week.