NSW Premier Gladys Berejiklian denies Allianz Stadium could have been upgraded to meet safety standards for a mere $18 million - a fraction of the $730 million price tag for knocking it down and rebuilding it.

A report prepared for the SCG Trust in 2016 suggested the Moore Park venue could be fixed to address “current non-compliance” for $18,153,800, the Sydney Morning Herald reported on Thursday.

But Ms Berejiklian said that was not correct.

“We’ve had a business case … and it says very clearly just to fix the basic building code requirements and safety requirements costs $341 million,” she told Nine’s Today Show.

“That information has been publicly available for a year.”

Major demolition works have already begun on the stadium, which – under the coalition government – will be bulldozed and replaced with a new one at a cost of $729 million.

Labor leader Michael Daley has been pushing to stop the works until at least after the election, on the basis that if he is elected he will refurbish the stadium at a lower cost.

But Mr Daley has been unable to say how much cheaper his plan would be.

“It’ll be a simply mathematical exercise, depending on how much damage is done to the stadium,” he told Nine.

“I won’t know that until I’m allowed in, and until the facts and figures are made available – and they’re not.”

The stadium has been a key issue in the lead up to Saturday’s election.