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Queensland Treasury Corporation the State Of FORM 18-K/A For Foreign Governments and Political Subdivisions Thereof SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 to ANNUAL REPORT of QUEENSLAND TREASURY CORPORATION (registrant) a Statutory Corporation of THE STATE OF QUEENSLAND, AUSTRALIA (co-registrant) (names of registrants) Date of end of last fiscal year: June 30, 2017 SECURITIES REGISTERED (As of the close of the fiscal year) Amounts as to Names of which registration exchanges on Title of Issue is effective which registered Global A$ Bonds A$181,276,000 None (1) Medium-Term Notes US$- None (1) (1) This Form 18-K/A is being filed voluntarily by the registrant and co-registrant. Names and addresses of persons authorized to receive notices and communications on behalf of the registrants from the Securities and Exchange Commission: Philip Noble Chief Executive Jim Murphy Queensland Treasury Corporation Under Treasurer of the State of Queensland Level 31, 111 Eagle Street Level 38, 1 William Street Brisbane, Queensland 4000 Brisbane, Queensland 4000 Australia Australia EXPLANATORY NOTE The undersigned registrants hereby amend the Annual Report filed on Form 18-K for the above-noted fiscal year by attaching hereto as Exhibit (c)(vi) Queensland’s Budget Papers for 2018-19 and as Exhibit (c)(vii) Queensland Treasury Corporation’s 2018-19 Indicative Borrowing Program Update. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this annual report to be signed on its behalf by the undersigned, thereunto duly authorized, at Brisbane, Australia, on the 15th day of June, 2018. QUEENSLAND TREASURY CORPORATION By: /s/ Philip Noble Name: Philip Noble Title: Chief Executive SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this annual report to be signed on its behalf by the undersigned, thereunto duly authorized, at Brisbane, Australia, on the 15th day of June, 2018. GOVERNMENT OF QUEENSLAND By: /s/ Jim Murphy on behalf of Name: The Honourable Jackie Trad MP Title: Treasurer INDEX TO EXHIBITS Exhibit (c)(vi) - Queensland’s Budget Papers for 2018-19. Exhibit (c)(vii) - Queensland Treasury Corporation’s 2018-19 Indicative Borrowing Program Update. EXHIBIT (c)(vi) Queensland’s Budget Papers for 2018-19. FORWARD-LOOKING STATEMENTS This exhibit contains forward-looking statements. Statements that are not historical facts, including statements about the State of Queensland’s (the “State” or “Queensland”) beliefs and expectations, are forward-looking statements. These statements are based on current plans, budgets, estimates and projections and therefore you should not place undue reliance on them. The words “believe”, “may”, “will”, “should”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “forecast” and similar words are intended to identify forward-looking statements. Forward-looking statements speak only as of the date they are made, and neither the Queensland Treasury Corporation nor the State undertake any obligation to update publicly any of them in light of new information or future events. Forward-looking statements are based on current plans, estimates and projections and, therefore, undue reliance should not be placed on them. Although the Queensland Treasury Corporation and the State believe that the beliefs and expectations reflected in such forward- looking statements are reasonable, no assurance can be given that such beliefs and expectations will prove to have been correct. Forward-looking statements involve inherent risks and uncertainties. We caution you that actual results may differ materially from those contained in any forward-looking statements. A number of important factors could cause actual results to differ materially from those expressed in any forward-looking statement. Factors that could cause the actual outcomes to differ materially from those expressed or implied in forward-looking statements include: • the international and Australian economies, and in particular the rates of growth (or contraction) of the State’s major trading partners; • the effects, both internationally and in Australia, of any subsequent economic downturn, the effect of ongoing economic, banking and sovereign debt risk, and any stalling of the protracted United States recovery; • increases or decreases in international and Australian domestic interest rates; • changes in the State’s domestic consumption; • changes in the State’s labor force participation and productivity; • downgrades in the credit ratings of the State and Australia; • changes in the rate of inflation in the State; • changes in environmental and other regulation; and • changes in the distribution of revenue from the Commonwealth of Australia Government to the State. Queensland Budget 2018-2019 BUDGET SPEECH Budget Paper No.1 budget.qld.gov.au 2018-19 Queensland Budget Papers 1. Budget Speech 2. Budget Strategy and Outlook 3. Capital Statement 4. Budget Measures 5. Service Delivery Statements Appropriation Bills Budget Highlights The Budget Papers are available online at budget.qld.gov.au © Crown copyright All rights reserved Queensland Government 2018 Excerpts from this publication may be reproduced, with appropriate acknowledgement, as permitted under the Copyright Act. Budget Speech Budget Paper No.1 ISSN 1445-4890 (Print) ISSN 1445-4904 (Online) Appropriation Bill 2018 (First reading speech, 12 June 2018) The Honourable Jackie Trad MP Deputy Premier Treasurer Minister for Aboriginal and Torres Strait Islander Partnerships Mr Speaker, I move that the Bill be now read a first time. I’m proud today to present the Palaszczuk Labor Government’s fourth Budget. This is a Budget for all of Queensland. This is a Budget for all Queenslanders. From baby Elizabeth Mackenzie – the 5 millionth Queenslander born last month – to the traditional owners on the land on which we stand, the Jagera, Yuggera and Turrbul People. Whether you live in Brisbane or Blackall. Labor is doing the things we said we’d do. No surprises – no excuses. Queenslanders are living through an era of growth and rapid change. Our population is one of the fastest growing in the nation. Technology continues to transform the way we live and work. The Palaszczuk Labor Government will help our communities to navigate the challenges of change and set a course for the opportunities of growth. 1 We will equip our workers on the frontline of a fast-changing world with the skills and support to succeed. We will encourage innovation and give businesses and industry the confidence to grow. We will direct every effort to our number one priority – jobs for Queenslanders. Here’s how. By delivering the infrastructure, skills and services that our strong, diversified economy needs. By including everyone in the benefits regardless of who you are or where you live. That is our strategy for this State. That is the job for this Government. That is the plan in the Budget I deliver today. We begin with the largest capital works program since the 2011 flood recovery. Building the infrastructure for a productive, strong and sustainable economy. Supporting growth without compromising our quality of life. Delivering jobs in construction today and supporting the jobs of the future. Mr Speaker, this Queensland Government must do the heavy lifting in infrastructure investment because this Federal Government simply will not. And this Labor Government must keep repairing the damage inflicted by the last LNP Government’s savage cutbacks to frontline services. More doctors, nurses, teachers, police and firefighters. The people who work so hard delivering excellent essential services every day. The professionals who educate our kids, keep Queenslanders healthy and protect our communities from harm. More infrastructure, better services – this is what we said we would do. Budget outcome Mr Speaker, Queensland’s economy has grown by 7.2 per cent in real terms since December quarter 2014. Today, I can announce that we expect a surplus of $1.512 billion in 2017-18 – more than three times the size of the Mid-Year Fiscal and Economic Review forecast. The Budget also forecasts operating surpluses over the forward estimates, starting with $148 million in 2018-19. 2 And economic growth is forecast to accelerate from 2.5 per cent in 2016-17 to 3 per cent by 2018-19. Our responsible budget management is part of this success story, but it would be impossible without our job generating initiatives that build business confidence and open up opportunities for growth and investment. This is a time of growth – and it is also a time of change. The Queensland economy continues to successfully shift from the big economic gains of a never before seen resource boom that brought with it massive investment, big infrastructure and jobs and wages growth. Business investment is rebounding following the construction of the liquefied natural gas infrastructure. It’s supported by a range of renewable energy projects that will be a key driver of economic growth. We are rolling out a nation-leading renewable energy industry with an estimated $4.2 billion pipeline of projects underway or financially committed across the State. This Budget delivers surpluses, builds new infrastructure, grows the State’s skills and expands our services – all to support a growing and changing State. Creating jobs, delivering infrastructure Queensland now has the second highest annual employment growth rate in the country. 3 Employment growth is forecast to strengthen to 2 ⁄4 per cent over the year to June quarter 2018, the strongest growth in more than a decade. More than 150,000 jobs have been created since we came to Government. That’s equivalent to almost 4000 new jobs in Queensland every month since January 2015. These are big numbers – but behind these numbers are people. Queenslanders who now have a place in our economy and hope for the future. And in this Budget - through our $45.8 billion infrastructure pipeline over the next four years – Queenslanders will continue to have a place in our economy. It’s an increase of more than $3 billion on last year’s Budget – directly supporting 38,000 jobs this year alone.
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