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Queensland Treasurer Cameron Dick s 2021 budget speech in full
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The D-word is not a dirty word for Treasurer Cameron Dick
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A plan to slash $3 billion in costs from Queensland s public sector has so far identified just $3 million in savings, prompting opposition accusations the government was attempting one of the greatest get-rich schemes of all time . In September Treasurer Cameron Dick pledged to implement a Debt and Savings plan, which would deliver $3 billion in savings for the government over four years. The savings would be found through the establishment of the Queensland Future Fund to pay down debt and the consolidation or abolition of some government services including the state s Productivity Commission, Building Queensland and the Public Safety Business Agency. However, a report by Queensland Parliament s Economics and Governance Committee on the Debt Reduction and Savings Bill reveals only $3 million in annual savings had been identified to date.
Queensland s $5.6b Future Fund might just be interest-only
Jan 11, 2021 – 12.01am
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The Palaszczuk government s $5.6 billion Future Fund – established to tackle Queensland s debt which is due to top $130 billion over the next four years – will be mostly used to pay the $3 billion annual interest bill.
While Treasurer Cameron Dick has promised the long-awaited fund will be created by the end of this financial year, it remains unclear how much debt the fund will actually pay off.
Treasurer Cameron Dick said Queensland s debt was not as bad as NSW or Victoria.
Attila Csaszar
But a Queensland Treasury spokesman has confirmed the returns from the investments – which will be made by the state-owned Queensland Investment Corporation – will be high enough to pay for the cost of the state s debt .
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