Hansard 1 May 1997

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Hansard 1 May 1997 1 May 1997 Ministerial Statement 1201 THURSDAY, 1 MAY 1997 Minister for Transport and Main Roads (Mr Johnson)— Government responses to Parliamentary Travelsafe Committee Reports— Mr SPEAKER (Hon. N. J. Turner, Nicklin) Report No. 18—Queensland’s Road Toll: read prayers and took the chair at 9.30 a.m. An Overview Report No. 19—Queensland’s Road Toll: Drink Driving (Part 1). PRIVILEGE Queensland Events Corporation MINISTERIAL STATEMENT Mr CAMPBELL (Bundaberg) (9.31 a.m.): I rise on a matter of privilege. In Queensland Credit Ratings reply to question on notice No. 124 to the Hon. J. M. SHELDON (Caloundra— Minister for Tourism, Small Business and Deputy Premier, Treasurer and Minister for Industry requesting funding details on grants The Arts) (9.33 a.m.), by leave: Queensland's provided to the Queensland Events outstanding financial and economic strength Corporation, the Minister stated that the once again has been confirmed by the three funding details would not be provided as it was leading international credit rating agencies: commercial in confidence, so the details of Moody's Investors Service, IBCA Limited and Government grants will not be given to this Standard & Poor's. Parliament or the public. This is not true and Mr De Lacy interjected. the Minister has misled the House. I shall refer this matter to you, Mr Speaker, for your Mrs SHELDON: These are independent consideration. economic advisers, and I notice that the honourable member relied on them extensively when he was the Treasurer. Each PETITIONS agency has recently undertaken a review of The Clerk announced the receipt of the the financial and economic position and following petitions— management of Queensland and has returned a vote of total confidence by reaffirming the highest quality credit ratings for Euthanasia Queensland. Most recently, IBCA yesterday From Mrs Edmond (9 petitioners) released a comprehensive report on requesting the House to enact legislation Queensland's financial and economic affairs which permits medical aid in dying to be legally and assigned a long-term local currency rating available to those of us who are suffering an of AAA, with a foreign currency rating of AA. In incurable illness and who resolutely request reaching this conclusion, IBCA stated— such assistance. "The strong financial record, economic dynamism and high net worth of the State suggest that the foreign Warrego River currency rating is constrained only by the From Mr Hobbs (49 petitioners) (Commonwealth's) sovereign ceiling; requesting the House to provide sufficient Queensland's debt is prudently funding to the Murweh Shire Council for the administered"; and purpose of removing the vegetation and silt build-up in the Warrego River. "The government has a clear policy to keep tax rates lower than in other States." Toowoomba-Dirranbandi-Hebel Coach I note also that IBCA has stated that the high Service level of population growth in Queensland is From Mr Hobbs (331 petitioners) related to the better economic and financial requesting the House to provide some form of conditions of the State and, therefore, the relief to enable the Toowoomba-Dirranbandi- expectation of better job prospects. Hebel coach service to be maintained. IBCA's high opinions of Queensland's Petitions received. financial and economic management are not isolated. IBCA's commendations follow similar announcements made last week by both PAPERS Moody's and Standard & Poor's. Moody's The following papers were laid on the reaffirmed its long-standing confidence in table— Queensland by assigning a long-term local 1202 Ministerial Statement 1 May 1997 currency rating of AAA and a foreign currency which is passed on to the clients of the rating of AA2. In making its announcement Queensland Treasury Corporation and, last week, Moody's indicated that the State's ultimately, to the people of Queensland. This strong credit ratings "are based on the State's benefit has resulted in Queensland Treasury sound financial condition, prudent financial Corporation paper currently trading at some management, diversified economy and low 4.1 basis points below New South Wales, indebtedness." Moody's report stated— generating savings to the State's borrowers of "Queensland has a pro-business some $20m per annum. economic environment made possible by I am proud to announce the recognition the Government's strong fiscal and of this coalition Government's enviable financial position." financial management policies as reflected in As published in the Courier-Mail last the ratings ascribed by the independent credit Friday, 25 April 1997, Standard & Poor's also rating agencies. has affirmed Queensland's AAA long-term local currency rating and AA long-term foreign MINISTERIAL STATEMENT currency rating. It is pleasing to note Standard & Poor's statement— Teacher Aides Pay Rise; Queensland ". the local currency ratings of the Teachers Union Government of Queensland reflects its Hon. R. J. QUINN (Merrimac—Minister very low debt levels, its continued financial for Education) (9.39 a.m.), by leave: It gives strength and flexibility and the positive me great pleasure to advise the House that outlook for the State's economy." more than 10,000 teacher aides in State Standard & Poor's commented further— schools are now in line for a pay rise following successful negotiations between Education ". the latest information indicates the Queensland and the Australian Liquor total state sector is continuing to maintain Hospitality and Miscellaneous Workers Union. a strong financial position in fiscal 1997 The union's executive has agreed to with a significant negative net borrowing recommend that members accept the requirement expected." Government's offer of a 12.5% increase over For the benefit of members, international three years and will seek endorsement of the representatives from these ratings agencies deal through a Statewide ballot this month. visit Queensland approximately every 12 The Government welcomes yesterday's months in order to carry out extensive, breakthrough and commends the union for its independent reviews of Queensland's constructive approach to negotiations. A underlying, financial and economic position. successful ballot will guarantee that the first These reviews then form the basis upon which instalment of 4% is backdated to 1 April 1997. the agencies assess and announce their credit The constructive approach to negotiations ratings of the State. adopted by both Education Queensland and The review carried out by agency the ALHMWU stands in stark contrast to that representatives includes an analysis of key adopted by the Queensland Teachers Union— strategic issues, economic performance and the only major union which has not reached outlook, State budgetary strategy, financial agreement with Education Queensland. The balance sheet data, Commonwealth/State QTU has already cost its members more than financial relations, liability management and $11m in lost wages and pay increases and, if other Government initiatives such as it presses ahead with rolling strikes this month, Competition Policy and Government Trading its total losses could easily top $18m in very Enterprises. quick time. That is money which it will never be This vote of total confidence in able to recover; it will be gone forever, Queensland's financial and economic strength because any pay rise can only be backdated quite clearly stems from the prudent financial to the first day of the month in which the management policies and practices which agreement is reached. were introduced by previous coalition Our teachers deserve a pay rise and they Governments and which are being applied by deserve it now, but our best efforts are being the current Government. The advantage of thwarted at every turn by the QTU. Education being assigned such high-quality credit ratings Queensland is more than willing to negotiate is that Queensland is a highly regarded in good faith, but this Government will not participant in both international and domestic cave in to industrial threats, because that financial markets. This in turn results in a lower would only encourage more strikes, more cost of debt for Queensland, the benefit of often. 1 May 1997 Ministerial Statement 1203 MINISTERIAL STATEMENT MINISTERIAL STATEMENT Singapore International Trade and Film and Television Industry; Cloud 9 Industry Fair Screen Entertainment Hon. D. J. SLACK (Burnett—Minister Hon. B. W. DAVIDSON (Noosa— for Economic Development and Trade and Minister for Tourism, Small Business and Minister Assisting the Premier) (9.40 a.m.), by Industry) (9.42 a.m.), by leave: It is my great leave: On many occasions in this House I pleasure to inform the House today of recent have had the pleasure of announcing the developments in my negotiations to fast-track achievements of Queensland companies on Queensland's ambitions for a world-class film the world stage. Once again I have the and television production and multimedia opportunity to speak about the success of our industry. At the International Television locally grown firms at an international trade Festival in Cannes, southern France, last fair—this time at the Singapore International week, Cloud 9 Screen Entertainment, one of Trade and Industry Fair '97, which was Europe's largest independent production organised by the Singapore Chinese Chamber houses, announced that it had entered into a of Commerce and Industry, the most powerful joint venture with a Queensland businessman ethnic Chamber of Commerce in Singapore. to establish an Australian subsidiary. Cloud 9's More than $80m in direct and projected sales agreement with John Lynch of Bug Apple over the next 12 months is expected from the Pictures Pty Ltd has been formed with a view participation of Queensland companies and to completing a minimum of three Australian productions each year. This Australian industry bodies at this fair. This is to the credit subsidiary of Cloud 9 will be based in of the Singapore Business Association of Queensland. Queensland and the South East Asia secretariat in my Department of Economic This announcement is particularly Development and Trade.
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