Statement from Treasurer Tim Nicholls

TREASURER Tim Nicholls has welcomed the statement made today by the Independent Commission of Audit, which comprehensively debunks criticisms contained in a report prepared for the Queensland Council of Unions.

“The Commissioners noted that the observations made by Bob Walker and his wife were political, and not the language of serious accounting analysis,” Mr Nicholls said.

“The statement refutes three key points made by Walker and Walker, but makes it clear that the report contained no other points of substance that warranted a response.

“The question now for the union fat cats is do they support the recommendations made by these so-called experts?

“Walker and Walker suggest including the $28 billion of assets held by QTC in debt measures.

“Doing so would be inconsistent with the approach of international credit ratings agencies and the previous Labor Government’s own fiscal principles.

“These funds are held to meet the Government’s future superannuation obligations to its employees.

“The unions need to tell their members if they support their own so-called experts’ report to effectively raid their future superannuation entitlements.

“Let me say clearly, the Newman Government will always act to protect our employees’ superannuation.”

ENDS

Media Contact: Treasurer's office - 3224 6900