Federal Government agrees to split the bill for Queensland Olympics

Queensland’s bid to host the 2032 Olympics has made a significant step forward with the Federal Government agreeing to cover half the Games costs.

The Federal Government has committed to split the Olympics infrastructure bill on the condition a jointly owned, funded and run Olympic Infrastructure Agency will have total oversight on the planned spending including a proposed $1 billion redevelopment of The Gabba.

“Backing the Queensland bid means more jobs, better infrastructure and more tourism dollars,” said Prime Minister Scott Morrison.

“Just like the Sydney 2000 Games, the Queensland bid has the opportunity to reshape our country.”

The financial commitment from Morrison came on the same day as the deadline to give assurances to the International Olympics Committee that funding for the Games was secured.

“All levels of government must work together and take the politics out of each decision,” Morrison said.

“This needs to be the Peoples’ Games. Our offer is for a genuine partnership, with shared costs and shared responsibilities, working together to make this the best Olympics on record.”

Palaszczuk said it was “a huge win for Queensland”.

“I always say ‘we work best when we work together’. This proves it,” she said.

The Prime Minister’s representative on the Olympics bid, Ted O’Brien, said the Federal Government “will insist on fiscal discipline and an embrace of the new norms’ which discourages unnecessary spending”.

“The Gabba will be treated like any other project – whether it stacks up as value for money is yet to be tested,” he said.