A 2032 Olympics update: Queensland’s credit rating has been downgraded from AA+ to AA by S&P Global Ratings (Standard and Poor’s) which influences the cost of borrowings and means spending by the Queensland government is getting out of control, including the state’s gigantic Olympics expenditure, with so many facilities across the nation that could be used instead.
Indeed, the 2032 Olympics need to be managed by the federal government, a major financial contributor to the multi-billion dollar project, because the LNP Queensland state government is being irresponsible, being geared for a massive construction spend, and having altered the law to allow developers to donate to the LNP party.
And then there’s the Fitzroy River mess; indeed, billionaire Gina Rhinehart must release the Queensland government from its commitment to her to hold the rowing on the Fitzroy River. It granted her written request in 2025 to have the rowing there. It’s unsuitable for tidal and wind reasons, altering the river’s course will endanger Rockhampton by faster travelling water, the project is estimated to cost a billion dollars, and there are other suitable rowing locations, and events that can be held at Rockhampton: I suggested campdrafting and quarter course events should be included in the Olympics, there.
The federal government needs to make the Olympics a national event to showcase Australia, reduce costs and to give each state and territory a taste of the pie: Melbourne should have the tennis, the Gold Coast should get many events because tourists like the sea and the Gold Coast can use the hotels from the Olympics afterwards. Sydney has facilities for events, as would Tasmania, South Australia, Perth and indeed the Northern Territory.
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