BREAKING NEWS:Victoria “Broke” Retailers Set To Be Hit After Commonwealth Games Cancelled

Victorian retailers are facing a major blow after the Victorian Government literally cancelled without notice the Commonwealth games because the Labor managed State is “broke”.

Victorian Liberal Leader John Pesutto says cancelling the 2026 Commonwealth Games is a “massive humiliation for Victoria”.

“This decision is a betrayal of regional Victoria and confirms that Victoria is broke, and Labor simply cannot manage major projects without huge cost blowouts,” Pesutto said.

Retailers local governments and business in Victoria are being “punished by a tired, corrupt and incompetent government.” he said.

Andrews told media that he he is not aware how much it will cost for the state to cancel the Commonwealth Games.

Andrews said talks were under way with officials from the organisation last night, to inform them of the state’s decision to back out.

He said it was not appropriate to speculate on the cost of cancelling the commitment.

Victoria’s State Premier Daniel Andrews has confirmed the Commonwealth Games in 2026 will not be held in Victoria, after claiming the $2.6 billion cost would blow out to potentially more than $7 billion.

“The games will not proceed in Victoria in 2026,” Andrews told stunned media earlier today.

“What’s become clear is that the cost of hosting the games is not the $2.6 billion … it is at least $6 billion and could be as high as $7 billion.

Questions are now being asked as to what the cost to the Queensland Government will be who is hosting the Olympics in 2032.

Andrerws said “Six to seven billion is well and truly too much. I will not take money out of the hospitals and schools to fund an event that is three times the cost as estimated and budgeted for last year.”

The high spending Premier claimed that “Last year when the Commonwealth Games authorities approached us and needed someone to step in to host the 2026 Commonwealth games, as a state we were happy to help out but of course not at any price and only if there was lasting benefit for Victorian communities,” Mr Andrews told reporters.

“What’s become clear is that the cost of hosting these games in 2026 is not the $2.6 billion which was budgeted and allocated – the vast, vast majority of which has not been spent – it is not $2.6 billion, it is in fact at least $6 billion and could be as high as $7 billion and I cannot stand here and say to you that I have any confidence that even that $7 billion number would appropriately and adequately fund these games.”

He has not mentioned the many other projects where costs have blown out under his Governments management.

The Australian reported that a high-ranking event industry official said that the Victorian government had been repeatedly warned of a cost blow out by hosting the Commonwealth Games in regional areas.

“But the Victorian government wouldn’t be told,” they said. “With the Games being hosted in so many different regional places, the cost was going to be five times the amount [of it being hosted solely in Melbourne].”

It comes as Victorian Premier Daniel Andrews revealed the Games would be cancelled due to the projected $2 billion cost escalating in excess of $7 billion, which he said was not for the benefit of Victorian communities.

A case in point was the proposal of building a temporary velodrome in Bendigo when there is already an international velodrome at John Cain Arena in Melbourne.

In a statement released after Premier Daniel Andrews press conference, the Commonwealth Games Federation criticised the Government for a lack of communication about the decision.

“We are disappointed that we were only given eight hours’ notice and that no consideration was given to discussing the situation to jointly find solutions prior to this decision being reached by the Government,” the statement read.

“Up until this point, the Government had advised that sufficient funding was available to deliver the Victoria 2026 Commonwealth Games.”

Victorian retailers were expecting a revenue windfall from the hosting of the Commonwealth Games in Victoria.