Latest news with #DavidJanetzki
The Advertiser
31-07-2025
- Business
- The Advertiser
Games hurdle: clock ticking on Olympic venues deadline
Olympic venues are at risk of not being constructed in time for the 2032 Brisbane Games due to declining productivity. Queensland's state productivity commission interim report has also warned current best practice industry conditions on sites are adding to the cost of major projects and delaying builds. Queensland Treasurer David Janetzki was unfazed on Thursday, saying the state government was up to the 2032 Games challenge. A week ago 2032 organisers celebrated the seven-year countdown to the Games amid much fanfare. But the Queensland Productivity Commission's interim report claimed productivity must improve substantially to deliver the Brisbane Olympics. State productivity had declined by nine per cent since 2018 - the year best practice industry conditions were introduced - the report said. "If Queensland is to meet the needs of its growing population, match infrastructure commitments and deliver the 2032 Olympic and Paralympic Games, productivity across the industry will need to improve," the report said. The clock had already been ticking for 2032 organisers after the state government finally confirmed its venue blueprint in March, more than 1300 days after Brisbane was named host city. Mr Janetzki said Brisbane would be ready for the 2032 Games. "It's an exciting time that we stand on the cusp of this generational legacy of transformative infrastructure for the Olympics," he told reporters. "This report is key to helping us finding a way through to that productivity increases that we need - it's a task that we're up to." Queensland's productivity growth compared to the broader state economy and Australia had been weak over the last three decades, the report said. Surging construction prices, rising insolvencies, constraints on labour supply and materials had all contributed to industry pressures following the COVID-19 pandemic. "The ongoing housing shortage and large Queensland government capital program (including the delivery of Brisbane 2032 Olympics infrastructure) mean lifting construction productivity to deliver increased market capacity is more important than ever," the report said. Labour productivity in the current construction sector was only five per cent higher than it was in 1994-95, compared to 65 per cent growth in the market economy over the same period. The almost 10 per cent drop in productivity over seven years had resulted in 77,000 fewer homes being built, the report said. The report also warned maintaining best practice industry conditions until 2029-30 could cost $20.6 billion, increasing project costs by up to 25 per cent and resulting in 26,500 fewer homes. The state government has budgeted $116.8 billion over the next four years towards its capital program. Recommendations from the interim report include changes to procurement, including "the permanent removal of the best practice industry conditions". Operations of the housing market can be improved by reducing unnecessary regulation of building form and streamlining approvals processes, the report said. Mr Janetzki said the interim report's findings validated a government decision to pause best practice conditions in late 2024. Sport and the Olympic Games Minister Tim Mander was set to provide submissions to a state budget estimates committee into capital programs involving the Games on Thursday. The commission was established by the Liberal National government this year to review factors driving Queensland construction sector productivity and make reform recommendations. A final report will be handed to the state government on October 24. Olympic venues are at risk of not being constructed in time for the 2032 Brisbane Games due to declining productivity. Queensland's state productivity commission interim report has also warned current best practice industry conditions on sites are adding to the cost of major projects and delaying builds. Queensland Treasurer David Janetzki was unfazed on Thursday, saying the state government was up to the 2032 Games challenge. A week ago 2032 organisers celebrated the seven-year countdown to the Games amid much fanfare. But the Queensland Productivity Commission's interim report claimed productivity must improve substantially to deliver the Brisbane Olympics. State productivity had declined by nine per cent since 2018 - the year best practice industry conditions were introduced - the report said. "If Queensland is to meet the needs of its growing population, match infrastructure commitments and deliver the 2032 Olympic and Paralympic Games, productivity across the industry will need to improve," the report said. The clock had already been ticking for 2032 organisers after the state government finally confirmed its venue blueprint in March, more than 1300 days after Brisbane was named host city. Mr Janetzki said Brisbane would be ready for the 2032 Games. "It's an exciting time that we stand on the cusp of this generational legacy of transformative infrastructure for the Olympics," he told reporters. "This report is key to helping us finding a way through to that productivity increases that we need - it's a task that we're up to." Queensland's productivity growth compared to the broader state economy and Australia had been weak over the last three decades, the report said. Surging construction prices, rising insolvencies, constraints on labour supply and materials had all contributed to industry pressures following the COVID-19 pandemic. "The ongoing housing shortage and large Queensland government capital program (including the delivery of Brisbane 2032 Olympics infrastructure) mean lifting construction productivity to deliver increased market capacity is more important than ever," the report said. Labour productivity in the current construction sector was only five per cent higher than it was in 1994-95, compared to 65 per cent growth in the market economy over the same period. The almost 10 per cent drop in productivity over seven years had resulted in 77,000 fewer homes being built, the report said. The report also warned maintaining best practice industry conditions until 2029-30 could cost $20.6 billion, increasing project costs by up to 25 per cent and resulting in 26,500 fewer homes. The state government has budgeted $116.8 billion over the next four years towards its capital program. Recommendations from the interim report include changes to procurement, including "the permanent removal of the best practice industry conditions". Operations of the housing market can be improved by reducing unnecessary regulation of building form and streamlining approvals processes, the report said. Mr Janetzki said the interim report's findings validated a government decision to pause best practice conditions in late 2024. Sport and the Olympic Games Minister Tim Mander was set to provide submissions to a state budget estimates committee into capital programs involving the Games on Thursday. The commission was established by the Liberal National government this year to review factors driving Queensland construction sector productivity and make reform recommendations. A final report will be handed to the state government on October 24. Olympic venues are at risk of not being constructed in time for the 2032 Brisbane Games due to declining productivity. Queensland's state productivity commission interim report has also warned current best practice industry conditions on sites are adding to the cost of major projects and delaying builds. Queensland Treasurer David Janetzki was unfazed on Thursday, saying the state government was up to the 2032 Games challenge. A week ago 2032 organisers celebrated the seven-year countdown to the Games amid much fanfare. But the Queensland Productivity Commission's interim report claimed productivity must improve substantially to deliver the Brisbane Olympics. State productivity had declined by nine per cent since 2018 - the year best practice industry conditions were introduced - the report said. "If Queensland is to meet the needs of its growing population, match infrastructure commitments and deliver the 2032 Olympic and Paralympic Games, productivity across the industry will need to improve," the report said. The clock had already been ticking for 2032 organisers after the state government finally confirmed its venue blueprint in March, more than 1300 days after Brisbane was named host city. Mr Janetzki said Brisbane would be ready for the 2032 Games. "It's an exciting time that we stand on the cusp of this generational legacy of transformative infrastructure for the Olympics," he told reporters. "This report is key to helping us finding a way through to that productivity increases that we need - it's a task that we're up to." Queensland's productivity growth compared to the broader state economy and Australia had been weak over the last three decades, the report said. Surging construction prices, rising insolvencies, constraints on labour supply and materials had all contributed to industry pressures following the COVID-19 pandemic. "The ongoing housing shortage and large Queensland government capital program (including the delivery of Brisbane 2032 Olympics infrastructure) mean lifting construction productivity to deliver increased market capacity is more important than ever," the report said. Labour productivity in the current construction sector was only five per cent higher than it was in 1994-95, compared to 65 per cent growth in the market economy over the same period. The almost 10 per cent drop in productivity over seven years had resulted in 77,000 fewer homes being built, the report said. The report also warned maintaining best practice industry conditions until 2029-30 could cost $20.6 billion, increasing project costs by up to 25 per cent and resulting in 26,500 fewer homes. The state government has budgeted $116.8 billion over the next four years towards its capital program. Recommendations from the interim report include changes to procurement, including "the permanent removal of the best practice industry conditions". Operations of the housing market can be improved by reducing unnecessary regulation of building form and streamlining approvals processes, the report said. Mr Janetzki said the interim report's findings validated a government decision to pause best practice conditions in late 2024. Sport and the Olympic Games Minister Tim Mander was set to provide submissions to a state budget estimates committee into capital programs involving the Games on Thursday. The commission was established by the Liberal National government this year to review factors driving Queensland construction sector productivity and make reform recommendations. A final report will be handed to the state government on October 24. Olympic venues are at risk of not being constructed in time for the 2032 Brisbane Games due to declining productivity. Queensland's state productivity commission interim report has also warned current best practice industry conditions on sites are adding to the cost of major projects and delaying builds. Queensland Treasurer David Janetzki was unfazed on Thursday, saying the state government was up to the 2032 Games challenge. A week ago 2032 organisers celebrated the seven-year countdown to the Games amid much fanfare. But the Queensland Productivity Commission's interim report claimed productivity must improve substantially to deliver the Brisbane Olympics. State productivity had declined by nine per cent since 2018 - the year best practice industry conditions were introduced - the report said. "If Queensland is to meet the needs of its growing population, match infrastructure commitments and deliver the 2032 Olympic and Paralympic Games, productivity across the industry will need to improve," the report said. The clock had already been ticking for 2032 organisers after the state government finally confirmed its venue blueprint in March, more than 1300 days after Brisbane was named host city. Mr Janetzki said Brisbane would be ready for the 2032 Games. "It's an exciting time that we stand on the cusp of this generational legacy of transformative infrastructure for the Olympics," he told reporters. "This report is key to helping us finding a way through to that productivity increases that we need - it's a task that we're up to." Queensland's productivity growth compared to the broader state economy and Australia had been weak over the last three decades, the report said. Surging construction prices, rising insolvencies, constraints on labour supply and materials had all contributed to industry pressures following the COVID-19 pandemic. "The ongoing housing shortage and large Queensland government capital program (including the delivery of Brisbane 2032 Olympics infrastructure) mean lifting construction productivity to deliver increased market capacity is more important than ever," the report said. Labour productivity in the current construction sector was only five per cent higher than it was in 1994-95, compared to 65 per cent growth in the market economy over the same period. The almost 10 per cent drop in productivity over seven years had resulted in 77,000 fewer homes being built, the report said. The report also warned maintaining best practice industry conditions until 2029-30 could cost $20.6 billion, increasing project costs by up to 25 per cent and resulting in 26,500 fewer homes. The state government has budgeted $116.8 billion over the next four years towards its capital program. Recommendations from the interim report include changes to procurement, including "the permanent removal of the best practice industry conditions". Operations of the housing market can be improved by reducing unnecessary regulation of building form and streamlining approvals processes, the report said. Mr Janetzki said the interim report's findings validated a government decision to pause best practice conditions in late 2024. Sport and the Olympic Games Minister Tim Mander was set to provide submissions to a state budget estimates committee into capital programs involving the Games on Thursday. The commission was established by the Liberal National government this year to review factors driving Queensland construction sector productivity and make reform recommendations. A final report will be handed to the state government on October 24.
Sky News AU
03-07-2025
- Business
- Sky News AU
Leaked documents show $3.7bn Olympic stadium will be built in Victoria Park as Queensland Rail proposes new train station
A new train station will be built beside Brisbane's 63,000-seat Olympic stadium in Victoria Park under plans outlined in leaked Queensland government documents. The commercial-in-confidence briefing, obtained by The Courier-Mail, also confirms for the first time the location of the $3.7 billion stadium at the southern end of Victoria Park, near the waterhole at Gilchrist Avenue and adjacent to the existing pedestrian bridge. Queensland Rail has proposed a three-platform train station on the site of the current rollingstock wash facility next to the Inner City Bypass. According to the documents, the station would serve as 'a key component of the precinct's integrated transport solution, enhancing accessibility, supporting future population growth and ensuring long-term economic and social value'. The cost of the station has not been disclosed. Brisbane Arena will now be pursued as a private sector-led development for infrastructure delivery, with state Treasurer David Janetzki announcing the creation of a dedicated Treasury unit. 'I've tasked Queensland Treasury to establish a dedicated unit to attract private capital to help deliver infrastructure projects needed for a growing state,' he said on Tuesday. 'Treasury's transaction team will be up and running by August 1 to explore different models to deliver commercially for investors while delivering for taxpayers.' The Victoria Park stadium location was backed by the independent 100-day review, which recommended the site due to its connections to Brisbane Metro, Exhibition Station, and proximity to Roma Street and Fortitude Valley stations. However, the panel also warned that upgrades would be required at Exhibition Station to handle increased crowds during Games-time events. That advice was given before the announcement of the $650 million National Aquatic Centre, to be built at nearby Centenary Pool. A second pedestrian bridge is planned above the Inner City Bypass to link the stadium with the aquatic facility. A warm-up athletics track will be constructed at the eastern end of Victoria Park, near the busway station. Between the stadium and training area, space has been set aside for broadcast facilities and a holding compound for Opening and Closing Ceremony logistics. Together with an upgrade to the RNA Arena, the development will feature three Olympic venues - with a combined 108,000 seats - within 1.5km of each other. Queensland Transport Minister Brent Mickelberg has acknowledged the precinct will require additional infrastructure investment. 'What we need to do is, we need to design the stadium, stadium infrastructure, and then work out what transport links are required and how to move people in and out of those facilities as quickly as possible,' he said. Exhibition Station is expected to begin year-round services in 2029, following the completion of the Cross River Rail project.
Sky News AU
30-06-2025
- Business
- Sky News AU
Queensland government set to privatise Olympic build
The Queensland government is set to privatise its infrastructure development for the Brisbane 2032 Olympics. Treasurer David Janetzki confirmed the establishment of a dedicated unit in his department for infrastructure investment from the private sector. Public-private partnerships could become the new norm for funding major Olympic venues, such as Victoria Park. In addition to this, joint funding deals could also cover the construction costs of the $650 million aquatic centre.
The Age
30-06-2025
- Business
- The Age
New TTT to deliver more PPPs for Queensland
The Queensland government will set up a new Treasury Transaction Team to attract private capital to help the government deliver its infrastructure pipeline, the treasurer announced on Monday. As for the extent of government infrastructure being targeted for private investment, David Janetzki cited three potential targets – energy, housing and stadiums. Janetzki announced the TTT during a Committee for Economic Development of Australia address in South Brisbane, telling assembled business people Queensland was 'open for business' while also taking a swipe at Victoria over GST shares. 'In an era of challenging government debt and challenging balance sheets, deliberate deployment of diverse capital has never been more important,' he said. Janetzki said the TTT, which would be up and running on August 1, would 'explore different models to deliver commercially for investors, while delivering for taxpayers'. Speaking to media following the address, Janetzki said the TTT would be responsible for capital attraction, transaction management and 'sending a clear message to the market that we're open for business'. Asked whether the TTT would result in public-private partnerships (PPPs) in areas not traditionally open to PPPs, Janetzki said: 'We want to send a clear message that we're open for business.' 'The clear element here is that we want to attract private capital into Queensland, whether it be renewables, housing, those investments into the Gabba precinct,' he said. 'That's the kind of thing we're looking at.'
Sydney Morning Herald
30-06-2025
- Business
- Sydney Morning Herald
New TTT to deliver more PPPs for Queensland
The Queensland government will set up a new Treasury Transaction Team to attract private capital to help the government deliver its infrastructure pipeline, the treasurer announced on Monday. As for the extent of government infrastructure being targeted for private investment, David Janetzki cited three potential targets – energy, housing and stadiums. Janetzki announced the TTT during a Committee for Economic Development of Australia address in South Brisbane, telling assembled business people Queensland was 'open for business' while also taking a swipe at Victoria over GST shares. 'In an era of challenging government debt and challenging balance sheets, deliberate deployment of diverse capital has never been more important,' he said. Janetzki said the TTT, which would be up and running on August 1, would 'explore different models to deliver commercially for investors, while delivering for taxpayers'. Speaking to media following the address, Janetzki said the TTT would be responsible for capital attraction, transaction management and 'sending a clear message to the market that we're open for business'. Asked whether the TTT would result in public-private partnerships (PPPs) in areas not traditionally open to PPPs, Janetzki said: 'We want to send a clear message that we're open for business.' 'The clear element here is that we want to attract private capital into Queensland, whether it be renewables, housing, those investments into the Gabba precinct,' he said. 'That's the kind of thing we're looking at.'
