Gold Coast tram passengers face disruptions this afternoon when staff walk off the job over a contract dispute.

But there is good news for bus passengers with a long-running industrial dispute involving drivers coming to an end.

Tram staff will strike between 4pm and 6pm on Friday.

G:Link has warned of reduced services and delays however, replacement bus services will be in place for the duration of the action.

Staff have flagged another round of industrial action on Wednesday afternoon.

It comes as the state government announces a historic investment for bus drivers across southeast Queensland following a long battle with drivers.

Industrial action has seen Gold Coast drivers walk off the job several times while they have also been refusing to accept fares.

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The government will invest over $155 million to help bring bus driver wages up to $35 an hour.

“Queensland is forecast to see significant population growth over the next 10 years and bus services are already being cancelled, delayed and reduced due to driver shortages. This funding is a solution to attract and retain drivers,” TWU Queensland Director of Organising Josh Millroy said.

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