LNP pledges $150m to Townsville stadium
Queensland's Liberal National Party is now expecting more cash than the forecast $37 billion from leasing state assets.
Premier Campbell Newman announced $150 million in funding for a new stadium complex in Townsville on Wednesday.
The funding hinges on the LNP's state asset leasing program, but Mr Newman says the government strongly believes they will receive more than the expected amount from privatising state assets.
'I'm only going to talk conceptually about it, but yes, the discussions the deputy premier, myself and the treasurer had is that we will see more money going to debt reduction and more, if you like, going to the pool for job creating infrastructure,' he said.
Mr Newman said the LNP's plan was crucial for the future economy of the city, which is currently based around one of Australia's largest army bases and its commercial port.
He said it wasn't just a stadium, set to host North Queensland Cowboys rugby league matches, because a wider plan included a residential and commercial complex, which would revitalise the southside of the CBD.
However, there is still a shortfall in funding because the government plans to contribute $150 million and the overall project will cost $210 million.
The premier is confident interested parties like the city council and NRL, as well as private sector involvement, will cover the remaining $60 million.
'That's what we're doing in the future,' Mr Newman said.
Local Government Minister David Crisafulli also took a swipe at Labor's pledge of $100 million for the project because it did not include an urban renewal project.
'The opposition flopped into town, picked a number out of the sky, had no way of paying for it, and had absolutely no vision about how they would energise the private sector to come on the journey and make this more than just one announcement,' he said.
