Newman not sure sales of assets wise
The report recommends selling electricity and port assets to pay down debt.
Mr Newman says he has read the report's executive summary but is not yet sure that selling the poles and wires of Queensland's electricity network is a good idea.
"I'm going to have to be convinced. This is a natural monopoly," he said on Tuesday.
Mr Newman said he and Deputy Premier Jeff Seeney were yet to receive a copy of the final 1000-page audit report and that Treasurer Tim Nicholls was only 250 pages into it.
Mr Nicholls has promised not to sell assets without an election mandate. But he has warned that Queenslanders have a difficult choice to make: sell assets or face big tax and fee rises.
Mr Newman said his government had to deal with the state's debt or basic services would suffer.
"What this actually means is that in 10 or 20 years' time, we won't have a health system that delivers for you in the way you expect," he said.
Frequently Asked Questions about this Article…
The Costello report recommends selling Queensland's electricity and port assets as a way to pay down the state's debt, according to the article.
No. Premier Campbell Newman said he's not yet convinced selling the poles and wires of Queensland's electricity network is a good idea — he’s read the report's executive summary but not the full audit and described the network as “a natural monopoly.”
Not yet. The article says the final audit report runs to about 1,000 pages; Premier Newman and Deputy Premier Jeff Seeney had not received a copy, and Treasurer Tim Nicholls was only about 250 pages into it.
According to the article, Treasurer Tim Nicholls has promised the government will not sell assets without an election mandate.
Tim Nicholls warned that if the government does not sell assets to reduce debt, Queenslanders may face big tax and fee rises as an alternative, per the article.
Premier Newman said the government has to tackle the state's debt or basic services will suffer; he warned that failing to act could undermine services like health in the long term.
Newman warned that if the government does not address the debt, in 10 or 20 years Queensland may not have a health system that delivers for people in the way they expect.
The article highlights that the Costello report’s asset-sale suggestion is under consideration and that senior Queensland ministers are still reviewing the full audit. Everyday investors watching potential privatisations should note there is debate within government, and any move would likely require an election mandate before proceeding.
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