The 2026 Commonwealth Games will not go ahead in Victoria.
Speaking to media on Tuesday morning, Premier Daniel Andrews said the cost was not “$2.6 billion as estimated” and could blow out to at least $6 to $7 billion.
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“When the Commonwealth Games needed a host city to step in at the last minute, we were willing to help – but not at any price, and not without a big lasting benefit for regional Victoria,” Mr Andrews said.
“Now the choice couldn’t be clearer – $6 billion is just too much.”
Mr Andrews said the Commonwealth Games Federation and Commonwealth Games Australia have been informed the state will be terminating the Host Agreement.
The main reason the Victoria Government agreed to host the games was to deliver a lasting legacy and benefit to housing, tourism and sporting infrastructure in regional Victoria.
With this in mind, the Victoria Government has announced a $2 billion package to “ensure regional Victoria still received all the benefits that would have been facilitated by the Games – and more.
One billion dollars of the package will be allocated to a new Regional Housing Fund to deliver more than 1,300 new homes across regional Victoria. It will include a mix of social and affordable housing.
A new $150 million Regional Tourism and Events Fund has been announced to “ensure regions have the best of everything on offer with new events, new attractions and more accommodation”.
The $2 billion package will also ensure all the permanent new and upgraded sporting infrastructure projected planned as part of the Commonwealth Games will still go ahead and completed as planned.
Mr Andrews said more information on the package will be announced later this week.
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