$800m ANZ Stadium Upgrades Ditched

 $800m ANZ Stadium Upgrades Ditched

Plans to revamp the Sydney Olympic Stadium have been shelved after the NSW government decided to prioritise developments which will better support the state’s post-COVID economic recovery.

The controversial $810 million redevelopment of the ANZ Stadium, in Sydney’s west, has been put on hold as NSW State Government opt to support funding for projects that will create more jobs amid the recent surge in unemployment.

Around 220,000 jobs have been lost in NSW during the coronavirus crisis, and Premier Gladys Berejiklian said that the decision to reroute funding will create up to 20,000 new employment opportunities.

“We are now not only guaranteeing our infrastructure pipeline, we will be looking for opportunities to fast-track projects to provide jobs as early as we can,” she said.

The planned funds for the revamp of the stadium will go towards the new Infrastructure and Job Acceleration Fund worth almost $3 billion, increasing the total infrastructure pipeline, which aims to help the NSW economy recover, to $100 billion.

“This guaranteed pipeline of $100 billion will be our best chance supporting the hundreds of thousands of people who have already lost their jobs in NSW,” Ms Berejiklian said.

“We are now not only guaranteeing our infrastructure pipeline, we will be looking for opportunities to fast-track projects to provide jobs as early as we can,” she said.

The government said the Stadium Australia rebuild was a sensible project backed by the people of NSW at last year’s election, but in the current health and economic climate, it no longer makes sense.

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