A PETITION calling on the Parliament to create a nation building fund to offset negative impacts on regional Queensland of the Brisbane 2032 Olympics has been launched by Nick Dametto, Member for Hinchinbrook and Founder of Our Fair Share, Colin Dwyer in Townsville today.
“This is another example of the Government neglecting regional Queenslanders. The Gold Coast Commonwealth Games had arguably a net negative impact on regional Queensland”.
“If the State Government is hell-bent on throwing away billions on a big party for the south-east corner; we want them to set aside the same amount of money for long term North Queensland infrastructure projects which will build our nation’s future prosperity,” said Mr Dametto who is sponsoring the petition in the Parliament.
The International Olympic Committee (IOC) estimates the cost of the Brisbane Olympics at $5.8 billion, an increase of more than 30 per cent on what the ALP Brisbane Government originally stated the games would cost.
A 2020 report by Oxford University’s Saïd Business School found every Games since 1960 had ended up on average 172 per cent over budget.
“With historical cost blow outs like this, is it any wonder Brisbane is the only city to bid to host the Olympics?”, asked Mr Dametto.
“Brisbane 2032 Olympics will cost billions in direct and indirect infrastructure. Olympic Infrastructure projects will get priority meaning higher wages. As a result, skilled workers from regional Queensland will relocate to South East Queensland, meaning regional Queensland suffers,” said principal petitioner and Founder of Our Fair Share, Colin Dwyer.
Interest rates are at record lows and the State Government can borrow money at even lower rates. This offset infrastructure fund will loan money to projects which will build our state, create generational jobs, repay the debt and generate taxation back into the state coffers.
“There is good debt and bad debt. Bad debt is a 20-year-old spending all their money on toys, before buying a house. Good debt is putting a deposit down for a first home, an asset that over time may increase in value, of even generate an income.
“Myself and my KAP colleagues, believe good debt is where state money is spent on money-making projects that increase the wealth of the state and repays the debt ten-fold,” said Mr Dametto.
The E-petition is can be found at E-Petition Details – Queensland Parliament and is open until 30 September 2021.
“We encourage everyone north of Noosa to sign this petition, to send a clear message to the Brisbane Government – if you are going to have a big party, we want our fair share invested into North Queensland, said Mr Dametto.