News

Higher tax or a sell-off, you decide: Treasurer

Treasurer Tim Nicholls' AAA rating will be achieved through asset sales or higher taxes.
Treasurer Tim Nicholls' AAA rating will be achieved through asset sales or higher taxes. Kari Bourne

THE man holding Queensland's purse strings says the state has two choices - higher taxes or an asset sell-off.

Treasurer Tim Nicholls said selling government-owned businesses was among 155 recommendations the Cabinet would discuss as they poured over the Costello Commission of Audit.

He said the only way to return to a AAA credit rating was to reduce debt.

"The practical way of doing that as suggested by the commission is to sell government-owned businesses," he said.

"That's something the government is considering and discussing.

"Queenslanders need to have a discussion about the choices they want to make - do they want to have increased taxes and charges or sell down government businesses to reduce debt so we can continue to deliver services."

Mr Nicholls said the Government was still anticipating a fiscal surplus by 2014-15 but it would need a 1% surplus a year for the next 50 years to achieve a AAA rating.

The Government is expected to release former Australian Treasurer Peter Costello's Commission of Audit Report next week but the Cabinet met at the Executive Building on Wednesday to discuss which recommendations they will pursue or debate with the public.

Premier Campbell Newman publicly declared on Tuesday that he was "in the main" against asset sales.

He promised he would not sell the Port of Gladstone or any electricity assets without asking Queenslanders for their opinion.

But Mr Newman said Queenslanders could not "just put our heads under the pillow and pretend it's going to go away".

Tourism Minister Jann Stuckey said she had read the whole 1000-page report and it was "fairly bleak reading".

Topics:  campbell newman credit rating privatisation tax treasurer tim nicholls



Tree felled in storm an 'act of god'

Jo Walker and Kelvin Steinhardt in front of what used to be their back shed. A tree from a neighbouring property fell over during a recent storm and destroyed it.

Insurance companies won't consider storm damage claim

$190,000 spend aims to boost tourist appeal

TOURISM BOOST: Councillors David Pahlke Wayne Wendt look over the new rest stop facilities at Willowbank.

"It's in a convenient location close to great attractions.”

Horn prepared to deliver a lesson

THE HORNET: Former schoolteacher Jeff Horn is likely to face boxing superstar Manny Pacquiao at Suncorp Stadium.

Former school teacher to take on Manny Pacquiao

Local Partners

Gatton family claims game show success

A GATTON family walked away with more than $11,000 after an exciting three-night run on game show Family Feud.


How cyclists could peddle funds into community

BIGGER AND BETTER: Bicycle Queensland has partnered with Somerset Regional Council.

BIKE riders set to flock to the region later this year.

Big flicks could soon be seen at major shopping centre

PROPOSED DEVELOPMENT: The Mt Ommaney Shopping Centre have lodged an application with the Brisbane City Council to build a new cinema and entertainment precinct.

New entertainment and dining options have residents excited.

Noll meltdown won't affect Gympie Oz Day concert

Shannon Noll

Photo Contributed

Shannon Noll is still expected to perform in Gympie next Thursday

Why The Walking Dead cast are paid a pittance

Despite massive ratings the cast haven't been shown the money

50 Shades Dornan on why he hates the film

Dornan and Johnson’s frequent sex scenes were ‘awkward’ to film. Picture: SuppliedSource:Supplied

Jamie Dornan doesn’t blame you for hating 50 Shades

Chris Hemsworth’s X-rated compliment to former co-star

Australian actor Chris Hemsworth poses on the red carpet for the European premiere of the film 'Avengers: Age of Ultron' in London on April 21, 2015.

THOR star once paid former Home and Away actress a lewd compliment.

'I can't keep my mouth shut any longer'

Singer George Michael.

George Michael’s cousin blasts singer’s boyfriend Fadi Fawaz.

Fresh faces: NCIS gets a shake up with new cast members

The new cast of NCIS, from left, Rocky Carroll, Pauley Perrette, Sean Murray, David McCallum, Brian Dietzen, Wilmer Valderrama, Emily Wickersham, Mark Harmon, Duane Henry and Jennifer Esposito.

THREE new characters join naval drama for season 14.

First the Onesie, now an Xbox One S inflatable controller

Fancy an inflatable Xbox One S controller?

Inflatable controller 'perfect sidekick' for Australia Day party

Thousands of jobs part of $1b retirement village project

THIS YEAR: An artist impression of the new Aveo retirement village in Springfield.

Aveo Springfield unveiled this month, homes ready by July

KNIFE-EDGE: The housing tightrope we now face

Even the smallest interest rate rise will be hard for some to handle.

One if five home owners at risk, according to new analysis

'Difficult times': Rental prices tipped to increase in 2017

GREAT BUYS: There are some great rentals and houses to buy in South Gladstone. Head to gladstoneobserver.com.au for the top 10 homes under $100 to rent right now in the Gladstone region.

Investors may soon see a "profitable return” on properties.

WARNING: Builders, clean up "unsightly sites"

Councillor Ireland at a messy building site.

Failure to do so could see builders slapped with fines.

Historical home leaves family's hands after 75 years

SALE CONFIRMED: The Gympie Regional   Realty team which sold the Ramsey property are (back) Mel Gastigar, Dorothy Palmer and Margaret Cochrane, with (front) home seller Terri-Jayne Ramsey.

Ramsey family played a huge role in Gympie's growth.

Ready to SELL your property?

Post Your Ad Here!