News

Asset lease plan set to raise $37b

EXTRA money raised leasing Queensland Government assets will go towards a new "cost of living" fund.

The LNP has voted to seek a mandate at next year's state election to lease electricity generators Stanwell and CS Energy, and electricity transmitters Energex, Ergon and Powerlink.

Treasurer Tim Nicholls said the plan, which is emblazoned with "No Asset Sales" on the front cover, would raise $37 billion.

He said the money - more than they expected with the original plan to sell assets - would be used to pay off state debt, fund infrastructure projects and placed in a cost of living fund.

Describing the announcement as "momentous and historic", Premier Campbell Newman said lease conditions would ensure regional electricity customers paid the same as metropolitan customers.

"One of the principles we are quite happy to talk about today is that the uniform tariff policy for electricity prices remains in Queensland. That will be a condition of the leasing process," Mr Newman said.

However, Electrical Trade Union secretary Peter Simpson said long-term leasing was no different to selling off the assets.

He said the plan would hurt regional Queenslanders.

"I'd ask people in regional towns to look at what happened to Queensland Rail jobs and workshops when they were privatised.

"They don't exist anymore. Jobs will be lost, and apprenticeships will go."

Dubbing the move a "Brisbane-centric attack on regional Queensland" Mr Simpson said the union had the support of rural Queenslanders.

"We've got the support of farmers on this. Farmers and unions aren't normally together on much, but they get it," he said.

Mr Nicholls said the conditions on the sale meant the government could strip an asset lease if there was a "major breach" such as job cuts.

Topics:  asset sales, state government




Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Milk: Five reasons to raise a glass on June 1

Next time you drink a glass of cheap milk, think about the consequences.

Dairy products rich and pure, says chef

LETTER: Doesn’t add up

ACCOUNTING PROBLEM: Ergon Energy’s different charges don’t make much sense, says one reader.

So I’m wondering who does their maths.

OUR SAY: Ice forum just the start to a solution

Many in the community are finding themselves addicted to ice

Latest deals and offers

Bennett, Langer, Thurston and others talk Cam Smith

Broncos and former QLD coach Wayne Bennett.

Broncos and former QLD coach plus past and present players talk about Cameron...

Landcare - Bundaberg significant trees

ENVIRONMENTAL AWARENESS: President of Bundaberg and District Urban Landcare's Mike Johnson is concerned about the pollution of Saltwater Creek. Photo: Mike Knott / NewsMail

MIKE Johnson said other councils such as Sydney have rules in place to prevent...

Poinciana in Targo St

UNDER THE CANOPY: Mario and Anna Maria D'Addario with the large Poinciana tree in their front garden. Photo: Mike Knott / NewsMail

Mario and Anna Maria D’Addario have been guardians of a poinciana tree which is...

Own Sunshine Coast property? You’re about to make money

UP AND UP: Property owners are likely to win from rent and price increases but tenants and first home buyers might not be so happy. Photo: Brett Wortman / Sunshine Coast Daily

Good new for property owners, not so good for buyers and tenants.

Sale nears on last large block of land in Coolum

The 43.37ha property on South Coolum Rd has sold.

South Coolum Rd property to be land banked