These businesses generate a lot of income for the Government.
", fact: "The total return from all five businesses in 2008-09 was approximately $320 million. This is less than 0.9% of the Government’s income. For every $100 of Government income that’s less than 90 cents. When the sales process is completed, it is anticipated the Government will save $1.8 billion every year in interest payments.
"}, { myth: "After this sale the Government will have no assets left.
", fact: "These five businesses represent a small percentage of Queensland’s assets. Queensland currently owns more than $200 billion in assets. Queensland’s asset base is growing and will be around $250 billion by 2013.
![\"Graph](\"/assetssale/images/asset-base.gif\")
"},
{ myth: "These businesses are cheap to run.
", fact: "Keeping these businesses would cost the Government $12 billion over the next five years. That’s $12 billion spent on new coal trains and new wharves that can’t be spent on roads, schools or hospitals.
"}, { myth: "This is a fire sale.
", fact: "These businesses are only for sale at the right price. The Government intends to get $15 billion in proceeds from the sale. They will be sold when there is investor appetite and true market value can be achieved. The Government is determined to get the best possible return for Queenslanders.
"}, { myth: "Selling assets was the only option considered.
", fact: "The Government chose not to cut the building program, as this would have risked 127,000 jobs and our economic recovery. Other options considered included raising State taxes or cutting services. These options would have placed unfair pressure on Queensland families.
"}, { myth: "Privatisation leads to job losses.
", fact: "The Government cannot grow these businesses, without cutting back public infrastructure building. The private sector can and will grow them. The success of former government-owned companies such as Qantas and Brisbane Airport have shown us what can be achieved through private ownership. Free of government restrictions, commercial businesses are free to grow and create even more jobs. Since privatisation, employment at Brisbane Airport has grown by 11,000 employees. Similarly, Qantas has grown by 6,700 employees.
"}, { myth: "Queensland Rails’s coal business pays for passenger and freight services.
", fact: "The Government pays Queensland Rail to provide these services. In 2007-08, the Government paid Queensland Rail $1.1 billion to provide key services such as Citytrain, Traveltrain and some freight services for regional and rural communities.
"}, { myth: "Queensland won’t get money from coal mining anymore.
", fact: "Queensland will always own the rights to our coal. We get paid for every tonne of coal that comes out of our State. We are only selling the business (trains and tracks) that hauls coal for private mining companies. Queensland will receive an estimated $1.4 billion in coal royalties for the 2009-10 financial year. Queensland receives these royalties from mining companies regardless of which company carries the coal from mine to port.
"}, { myth: "A private company will charge excessively for the Gateway/Logan tolls.
", fact: "The Government will legislate a toll level at the point of sale and then allow that toll to rise only with inflation post the sale.
"}, { myth: "The sale of Port of Brisbane will relinquish the control of our waterways and safety at the Port.
", fact: "The Government will retain responsibility for maritime control of our waterways. Regardless of who owns the Port, security will remain with Commonwealth and State policing and quarantine authorities.
"}, { myth: "The Government should stop building during a downturn.
", fact: "Governments around the world are spending money to stimulate economies and keep people in jobs. Over the last 10 years, Queensland has hired an additional 3,300 police, 6,300 teachers, 2,100 doctors and 7,200 nurses. Queensland also has the largest per capita infrastructure building program of any state. The building program is protecting 127,000 Queensland jobs. That’s why Queensland is using a budget deficit to continue the $18 billion building program.
"}, { myth: "The recession is over, we should stop spending.
", fact: "Economists around the world are warning governments not to withdraw stimulus spending. Economic conditions have started to improve, but the outlook remains uncertain. There is still work to do to protect Queensland jobs.
"} ];