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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. 2 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, 2015 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$486,682,000 None (1) Medium-Term Notes US$- 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 Jim Murphy Chief Executive Under Treasurer of the State of Queensland Queensland Treasury Corporation Executive Building Level 6, 123 Albert Street 100 George 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)(vii) Queensland’s Budget Papers for 2016-17 and as Exhibit (c)(viii) Queensland Treasury Corporation’s 2016-17 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, 2016. 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 24th day of June, 2016. GOVERNMENT OF QUEENSLAND By: /s/ Jim Murphy on behalf of Name: The Honourable Curtis Pitt MP Title: Treasurer INDEX TO EXHIBITS Exhibit (c)(vii) - Queensland’s Budget Papers for 2016-17. Exhibit (c)(viii) - Queensland Treasury Corporation’s 2016-17 Indicative Borrowing Program Update. EXHIBIT (c)(vii) Queensland’s Budget Papers for 2016-17. 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 further global financial crisis, any subsequent economic downturn, the ongoing economic, banking and sovereign debt crisis in Europe 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 2016-17 Budget Speech Budget Paper No. 1 Appropriation Bill 2016 (First reading speech, 14 June 2016) Treasurer The Honourable Curtis Pitt MP Treasurer Minister for Aboriginal and Torres Strait Islander Partnerships Minister for Sport Appropriation Bill 2016 (First reading speech, 14 June 2016) Treasurer The Honourable Curtis Pitt MP Treasurer Minister for Aboriginal and Torres Strait Islander Partnerships Minister for Sport Mr Speaker I move that the Bill be now read for a first time. Mr Speaker, At the last election, Queenslanders elected a Palaszczuk Labor Government… To save our revenue-generating state assets from sell-off... To create jobs and restore frontline services… To bring stability back to Government by replacing confrontation with consultation in our dealings with business and other sectors of our community. This Budget, the second of the Palaszczuk Government, will respond to the economic conditions facing Queenslanders – those who are working, and those who want to be working. It is a Budget with a clear intent to drive economic growth across all parts of Queensland. My job as Treasurer and the job of this Government is to ensure the confidence that has returned in our economy – and in the community more broadly – continues. Our economic plan is to build on the successes of the last 17 months, and to be pragmatic about the challenges that lie ahead. Since the election in January 2015, 52,500 new jobs have been created in Queensland. This includes more than 1,200 full time jobs each month, compared to the loss of around 360 full time jobs each month under the former Government. This has been achieved in challenging global and domestic conditions. 1 We have consistently delivered the highest business confidence of mainland States, month in month out, since last year’s Budget. We have worked hard to ensure people are engaged and positive about our great state… About the opportunities across key sectors like tourism, agriculture and resources, and how these sectors can benefit from innovation. But there is still more work to be done. Innovation, Investment and Infrastructure Mr Speaker, this Budget sets out a clear economic plan for Queensland, and is focused on three priorities. Job creating innovation, investment and infrastructure. We will encourage and foster innovation by accelerating our Advance Queensland plan and look to capture opportunities in industries such as genomics, robotics and biofuels. We will attract investment, both from overseas and interstate – as well as give business opportunities to expand, become more profitable, and hire people too. And we will continue building the transformative infrastructure our State needs to grow and prosper. Innovation, investment and infrastructure are all at their core about one thing – Jobs. These three priorities will help secure the jobs Queenslanders have now. They will help grow jobs in our existing industries by tapping new opportunities. And they will help create new jobs for the future in new and developing industries. And, importantly, we also continue to support and assist those seeking to enter the work force by providing opportunities to access the training and skills development they need. To achieve all this, the Budget I present today addresses both the challenges and opportunities facing our State. It is an economic plan that advances Queensland by investing in the future. An economic plan that kick starts new industries and creates new jobs, by building on the strengths of our existing ones – harnessing the capacity of Queenslanders to innovate and foster new investment. An economic plan that has a specific focus on getting regional Queensland Back to Work. An economic plan that increases the resilience of Queensland to face future challenges and external shocks through further economic diversification and steady and responsible fiscal leadership. 2 Fiscal Strategy Mr Speaker, this Budget is about getting the balance right and making the right decisions for the circumstances we face. Balancing sustainable fiscal management with the delivery of vital services and supporting the transition to a more diversified economy. Balancing debt reduction with investment in services and infrastructure. This economic plan builds on the work we began in the 2015-16 Budget. It again allocates record funding to health and education. We are standing firm in the face of deep and continued federal funding cuts that have not been fully restored. We are supporting regional Queensland with more jobs and infrastructure. And we are delivering a better public transport system for the South East. Before the 2015 election, we gave a commitment to the people of Queensland that we would manage the State’s finances responsibly. That we would invest taxpayers’ money in the best possible way – and make every single dollar go as far as possible. Our first Budget did just that because that’s what people expect of their government. This Budget again honours that commitment, with a surplus of $152 million in 2015-16 and surpluses in each of the next four years. The 2015-16 surplus is well down on the forecasts in our Mid-Year Fiscal and Economic Review (MYFER) in December last year. But that is due in no small part to the federal government’s unilateral decision in last month’s federal Budget to defer more than $1 billion in natural disaster funding from the 2015-16 year.
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