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QIC Chief Executive Officer Damien Frawley announces his intention to retire
June 29, 2021 GMT
BRISBANE, Australia, June 29, 2021 /PRNewswire/ QIC CEO, Damien Frawley, has today announced his intention to retire in 2022 after nine years leading the investment management corporation which delivers alternative asset and liquid market solutions.
During his time at the Queensland Government-owned corporation, QIC has come to be widely regarded as one of Australia’s preeminent investment managers, managing over $88.8 billion[1] in assets under management for a range of government, domestic and global institutional investors.
The Queensland budget would be $5.4b better off - enough to pay for Cross River Rail - if the Palaszczuk Government hadn t repeatedly blown its promise to restrain spending. An analysis of budget papers from 2015-16 to this year shows the government has overspent its projected expenses every year but one, managing to finally reign in spending last year as Covid smashed the economy and Treasurer Cameron Dick embarked on a $3b savings plan. It follows his announcement of a surprise $153m surplus in 2024-25, based on near record low spending growth for three consecutive years from next year. While total expenses reach $64.2b in 2020-21, $682m less than what was predicted in December s budget, spending has blown past predictions in every other previous budget.
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Subscriber only Construction on more than 6000 homes will start over the next four years as part of a $2.9b social housing investment that s been heralded as a beacon of hope for Queenslanders at the centre of the state s property crisis. While Treasurer Cameron Dick conceded the funding would not clear Queensland s surging waitlist, which hit 26,397 in September last year, he said it would turbocharge construction and provide critical services. The government will spend $1.9b to implement the Housing and Homelessness Action Plan 2021-25, which will be delivered as part of the current Queensland Housing Strategy 2017-2027. This will increase housing supply, upgrade existing dwellings and deliver other crucial services to vulnerable Queenslanders.
Palaszczuk Govt's blown savings promises cost QLD $5.4bn sunshinecoastdaily.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sunshinecoastdaily.com.au Daily Mail and Mail on Sunday newspapers.
Queensland Treasurer Cameron Dick's 2021 budget speech in full brisbanetimes.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from brisbanetimes.com.au Daily Mail and Mail on Sunday newspapers.