The financial benefits of selling
The sale of these assets will deliver the following financial benefits:
- $15 billion in proceeds injected into the State budget
- $12 billion saved in future borrowings for these businesses
- $1.8 billion saved every year in interest payments.
The cost of keeping these businesses
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 and hospitals.
It is the Government’s view that asking the private sector to buy their own coal trains and build their own wharves is more than fair. It will allow the Government to focus on delivering public infrastructure and services that we all use.
Income generated from these businesses
The Government does not rely on the income from these businesses. 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 these businesses account for less than 90 cents.
Our growing asset base
- This sale represents 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.
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