Queensland’s assets could be leased to private companies for up to ninety nine years, as part of a new Government effort to generate revenue.

The LNP’s privatisation proposal aims to address the eighty billion dollars of debt, it says Labor left the State.

Isabella Vecchio reports.


Treasurer Tim Nicholls announced the LNP’s reviewed proposal to sell assets boasting compliance of leases with the Qld Plan.

Mr Nicholls told a breakfast in Brisbane today the Government is looking at potentially leasing ports, power stations and distribution assets, for periods of 50 to 99 years.

Tim Nicholls, Qld Treasurer: “People do prefer and they do understand the idea of a lease, where ultimately the asset and the ownership of the asset is retained by the people of Queensland.”

The Qld Council of Unions Executive meeting rejected it as a desperate revision.

John Battams, QCU President: “This is not an economic strategy. This is an election strategy. This is not the Government listening. This is the Government trying to get its way by making a sneaky announcement designed to have the same effects.”

The QCU says it’ll oppose the sale and lease of assets, such as the Gladstone and Townsville Ports and Mount Isa Rail Line, into next year’s State election.

The LNP previously promised not to sell the poles and wires of Qld’s publicly owned electricity system.

The QCU’s major concern is that the proposed leases will push prices up and send profits overseas.

The LNP criticised privatisation of assets when the Labor Government publicly floated then QR National in 2010

Shadow Treasurer Curtis Pitt says the Government’s actions show they’ve already decided, despite claiming they’ll seek a mandate from voters at next year’s election.

Isabella Vecchio, QUT News.