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



Week of highs for Bundaberg Sugar

SWEET: The sugar crush is going well.

There is plenty of good news for Bundaberg sugar

Bundy skating rink to close after 30 years

MEMORIES: Koby Irvine at Extreme Skate Zone.

End of an era for rolling skating rink

Local Partners

Lady Gaga confirms Super Bowl show

Lady Gaga

Lady Gaga to perform in coveted spot

Girls actors give emotional tributes to hit show

Actor Allison Williams

Actors farewell smash hit HBO show Girls after six seasons

Janet Jackson's pregnancy is 'best thing'

Janet Jackson

Janet Jackson can't wait to become a mum

Jay Z signs two-year movie and TV deal

Rapper Jay Z

Rapper Jay Z has signed a television and movie deal

Nowhere to Hyde: Matt Nable is Australia's man in demand

Matt Nable stars as Detective Gary Hyde in the TV series Hyde & Seek.

NABLE returns to the small screen amidst busy film work.

Marvel's Luke Cage S1E7: Manifest review

Mike Colter in a scene from the TV series Marvel's Luke Cage. Supplied by Netflix.

*WARNING: spoilers if you haven't seen Marvel's Luke Cage*

Beach-side real estate starts at $85k on Fraser Coast

HERVEY BAY REAL ESTATE: You can buy this townhouse in Scarness for under $300k.

Live your beach-living dream locally.

$40million hotel, shops development project for Mackay

Mt Pleasant hotel and retirement accommodation, proposed at 194-202 Malcomson St.

$40m development to take Mackay to 'the next level'

Developers boost confidence in Bundaberg property market

Slow and steady growth has always been Bundaberg’s way

Property 200m from ocean selling for just over $100K

BEACHCOMBER PARK: Work has started on a new $19.2 million development at Toogoom.

The estate's developer is offering huge discounts for early buyers.

UPDATE: Former rodeo champ's sale rained out, now back on

Larkhill local Ken Consiglio is having an auction of most of the things on his property.

'People kept showing up and we had to turn them away'

First stages of $25 million housing development underway

New development on Madsen Rd - The Springs.

The blocks of land are much bigger than usual