Latest news with #Commonwealth-funded
Sydney Morning Herald
8 hours ago
- Business
- Sydney Morning Herald
New Brisbane Olympics funding deal likely within weeks
A new funding deal for the 2032 Brisbane Olympic Games will likely be announced within weeks, after a radical change in venue delivery forced a renegotiation. The former $7.1 billion federal and state agreement was based around a Gabba rebuild and a Commonwealth-funded arena at Roma Street in the CBD. It had to be renegotiated when the Crisafulli government instead backed a privately built Gabba Arena on the GoPrint site, with the main Olympic stadium confirmed for Victoria Park. 'The discussions … are incredibly positive,' Queensland sports minister Tim Mander said during a visit to the Queensland Sport and Athletics Centre, which would have been the centrepiece 2032 venue under the former state Labor government's delivery plan. 'I'm very confident that an agreement will be made shortly.' Standing alongside Mander, federal counterpart Anika Wells said: 'I agree with Tim that this is a matter that you will hear from us on soon.' 'We understand that people want to see us get on with this' she said. 'We understand that people want to see work advance as quickly as possible.' Neither clarified a timeline, but sources at both levels of government have told this masthead an announcement is likely, but not guaranteed, within the next month.
The Age
8 hours ago
- Business
- The Age
New Brisbane Olympics funding deal likely within weeks
A new funding deal for the 2032 Brisbane Olympic Games will likely be announced within weeks, after a radical change in venue delivery forced a renegotiation. The former $7.1 billion federal and state agreement was based around a Gabba rebuild and a Commonwealth-funded arena at Roma Street in the CBD. It had to be renegotiated when the Crisafulli government instead backed a privately built Gabba Arena on the GoPrint site, with the main Olympic stadium confirmed for Victoria Park. 'The discussions … are incredibly positive,' Queensland sports minister Tim Mander said during a visit to the Queensland Sport and Athletics Centre, which would have been the centrepiece 2032 venue under the former state Labor government's delivery plan. 'I'm very confident that an agreement will be made shortly.' Standing alongside Mander, federal counterpart Anika Wells said: 'I agree with Tim that this is a matter that you will hear from us on soon.' 'We understand that people want to see us get on with this' she said. 'We understand that people want to see work advance as quickly as possible.' Neither clarified a timeline, but sources at both levels of government have told this masthead an announcement is likely, but not guaranteed, within the next month.
The Age
19-06-2025
- Business
- The Age
Power bill help ditched in WA Labor's big-spending infrastructure budget
The Cook government has done away with its flagship cost of living-beating $400 power credit as it seeks to convince those not feeling the benefits of the state's current prosperity that more targeted measures will do the trick. Labor's ninth budget – Treasurer Rita Saffioti's second – has delivered a $2.5 billion operating surplus this year and more operating surpluses over the next four years from $2.4 billion in 2025-26 to $2.8 billion by 2029. However, state spending continues to skyrocket and cash deficits are driving growth in state debt as the government pivots from road and Metronet spending to ports, poles and wires. Premier Roger Cook said the budget delivered on his 'Made in WA' plan promised at the state election in March, which aimed to diversify WA's economy away from its reliance on iron ore. 'This budget keeps Western Australian ambitions on track,' he said. The government will spend $963 million extra on cost of living support for WA households – but that will not include a state-funded power credit that has featured in the past four budgets. Instead, Saffioti pointed to items like the $150 Commonwealth-funded power credit and the already announced $337 million residential battery scheme as evidence it was helping address power bill prices. On broader cost of living support, Saffioti pointed to the $89 million school assistance payment currently on offer to parents of school children, and the $2.80 flat Transperth and TransWA fare due next year, which will cost $152 million. This flat fare has helped bring down how much the average household pays in government fees and charges by 0.8 per cent from $6617 to $6565.
Sydney Morning Herald
19-06-2025
- Business
- Sydney Morning Herald
Power bill help ditched in WA Labor's big-spending infrastructure budget
The Cook government has done away with its flagship cost of living-beating $400 power credit as it seeks to convince those not feeling the benefits of the state's current prosperity that more targeted measures will do the trick. Labor's ninth budget – Treasurer Rita Saffioti's second – has delivered a $2.5 billion operating surplus this year and more operating surpluses over the next four years from $2.4 billion in 2025-26 to $2.8 billion by 2029. However, state spending continues to skyrocket and cash deficits are driving growth in state debt as the government pivots from road and Metronet spending to ports, poles and wires. Premier Roger Cook said the budget delivered on his 'Made in WA' plan promised at the state election in March, which aimed to diversify WA's economy away from its reliance on iron ore. 'This budget keeps Western Australian ambitions on track,' he said. The government will spend $963 million extra on cost of living support for WA households – but that will not include a state-funded power credit that has featured in the past four budgets. Instead, Saffioti pointed to items like the $150 Commonwealth-funded power credit and the already announced $337 million residential battery scheme as evidence it was helping address power bill prices. On broader cost of living support, Saffioti pointed to the $89 million school assistance payment currently on offer to parents of school children, and the $2.80 flat Transperth and TransWA fare due next year, which will cost $152 million. This flat fare has helped bring down how much the average household pays in government fees and charges by 0.8 per cent from $6617 to $6565.
