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Asset sales 'appalling': Unions
Unions say planned asset sales will fund the LNP's "re-election campaign" while business is worried "prices will rise and services will deteriorate".
PT2M12S 620 349Bruce Highway projects and the Moreton Bay Rail Link from Petrie to Kippa-Ring are the focus of transport funding in the Queensland Government's 2014-15 budget.
However the State Government is hinging its future infrastructure dreams on the future debate over the decision to sell government-owned assets.
The asset sales would be delivered over six years if voters accept the state government's plan.
Brisbane's planned BaT Tunnel. Photo: Supplied
While more than 75 per cent of any asset sales would go to paying back debt, about $8.6 billion would be freed up for infrastructure.
The government aims to raise .6 billion from the sale of assets and put billion back to pay down debt.
It leaves .6 billion for its Strong Choices Investment Program for these infrastructure projects broken into four areas: agriculture, tourism, construction and resources.
Plans for the privatisation of Queensland assets as outlined in the budget.
The main public transport project identified is the billion Brisbane Bus and Train Project (BaT) Tunnel. The Queensland Government sets $1 billion from the $8.6 billion for BaT Tunnel, depending on the assets being sold or leased.
Projects that could be funded from this asset sale decision are:
- $1.5 billion for a rural and regional road fund;
- $1.5 billion for a Southeast Queeensland roads fund;
- $1 billion for a public transport rail project;
- $1 billion for Brisbane's Bus and Train project;
- $1 billion for a Future Schools Fund ;
- $700 million for a Rural and Regional Economic Development Fund;
- $500 million for a Local Government Co-investment Fund;
- $500 million for a Natural Disaster Future Fund;
- $500 million for an Entrepreneurial and Innovation Fund;
- $300 million for a Community Hospitals Fund;
- $100 million for a Cultural Infrastructure Fund.
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