The Albanese government has unveiled its second federal budget with $500 million set aside for the 2032 Brisbane Olympics but nothing as yet for the Commonwealth Games in 2026.
The cost of hosting the Commonwealth Games has been estimated at $2.6 billion, with the Victorian government looking for the federal government to chip in $1.3 billion.
Assistant Treasurer Danny Pearson said prior to the release of the federal budget that he hoped the federal government would back the Commwealth Games to same degree it has backed the Olympics.
“What I would say is that the Commonwealth has provided funding to the Olympic Games in Brisbane in 2022, so we would hope that they would come forward with some level of funding for the 2026 Commonwealth Games,” he said.
It is unclear whether the state could afford to host the Comm Games without federal support, but the spectre of rising living costs and inflation have put pressure on both the federal and state treasurers’ budget plans.
“The commonwealth is exploring opportunities with the Victorian government on the development of Commonwealth Games villages, where this aligns with our goal to build more social and affordable housing,” said a spokeswoman for Infrastructure Minister Catherine King.
“We note that the Victorian government has already announced and started tendering for games venues.”
The Federal Budget will see $504.6 million allocated to the Brisbane 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.
“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,” said Federal Treasurer Jim Chalmers.
The Federal Government has already committed to a 10-year $7 billion joint funding deal with the Queensland government to build a number of venues to support the Olympic and Paralympic games.