Queensland’s future prosperity is being threatened by an accumulated State debt of $80 billion – the result of ten years of poor planning and waste by previous governments. Interest on that debt costs $4 billion every year, or $450,000 an hour. That is “dead money” that could otherwise be spent building more schools, hospitals, roads and other vital infrastructure for this State’s growing population.
Doing nothing is not an option. If strong and smart choices are not made now to bring the State debt under control, the children and grandchildren of today’s Queenslanders will be forced to pay it instead, and bear the burden of lost opportunities and economic insecurity.
Through the Strong Choices campaign, Queenslanders told us they do not want to increase taxes or reduce services. Nor do Queenslanders want to sell assets – they believe it is important to retain a stake in these important public enterprises.
That leaves only one choice – to reduce debt by leasing some assets.
This choice – the strongest and smartest choice – will allow Queenslanders to retain ownership of those assets, while still delivering the best possible financial outcomes for the State. This is now the Final Plan, and not everyone will agree with every part. But all Queenslanders will benefit from the strong choices made to deliver funding certainty into the future, so we can have vital services and infrastructure for our growing State.