Skip links and keyboard navigation

    Media Statements

    Coat of ArmsMedia Release
    Premier and Minister for Reconstruction
    The Honourable Anna Bligh

    1,000s of Fitzroy region children could benefit from ‘mines to minds’

    Premier and Minister for Reconstruction
    The Honourable Anna Bligh

    Tuesday, December 06, 2011

    1,000s of Fitzroy region children could benefit from ‘mines to minds’

    Over 30,000 newborns in the Fitzroy Region could benefit from the Governments Mines to Minds Vision over the next decade.

    During a visit to Glenmore State High School in Rockhampton today Premier Anna Bligh said population forecasts show that over 30,000 children were expected to be born in the region over the next 10 years.

    “Our plan to use the State’s resources to fuel the education of the next generation of Queenslanders can benefit each and every one of those new Queenslanders,” she said.

    “Whether they want to work in the resource industry, go to university or TAFE, or take up a trade the Queensland Education Trust can make a positive difference in their lives.”

    Ms Bligh released From Mines to Minds: A proposal to establish a Queensland Education Trust last month.

    The paper proposes the establishment of a multi-billion dollar Queensland Education Trust using 50% of future LNG royalties – projected at more than $1.8 billion in the next 10 years alone.

    “In Queensland we are already on the cusp of enormous prosperity with a resources boom unlike anything we’ve ever seen before and Rockhampton is close to the centre of the action,” said the Premier.

    “The question now is how we use this prosperity. Our Government wants to invest in the Fitzroy region’s children because we know they are the most precious resource we have.”

    The Government’s proposed trust could be invested in different ways including;

    • Individual Trust Accounts for Education – an individual endowment that would mean every newborn child would have a nest egg valued between $7800 and $9500 when they turn 18 or;
    • Dedicated Education Fund: an investment fund where the proceeds are reinvested by Government in education and training initiatives beyond the basics throughout the schooling years and potentially beyond.

    The Premier said under the Trust account model every Fitzroy Region child born on or after July 1, 2012 would receive a savings endowment at birth that could be accessed at age 18.

    “This would consist of an initial deposit of $500 at birth followed by a further contribution of around $3,200 in the year they enter Prep when the first royalties from the LNG industry will begin to flow,” said the Premier.

    “This money will be invested by the QET until the young person turns 18 when they can use the money towards education or training costs.”

    Modelling indicates that the golden generation’s first members could receive between $7,800 and $9,500 when they turn 18.

    Under the second option the QET would invest up to 50% of LNG royalties as an education ‘future fund’ to be set aside funds for specific initiatives such as; TAFE and university scholarships for rural, regional and disadvantaged students, International exchange programs and language programs.

    The Queensland Government wants to hear from Fitzroy communities. We want your feedback on the QET by February 17, 2012.

    You can have your say by writing to us at: Education Trust, PO Box 15185, Brisbane 4000 or email at Education.Trust@premiers.qld.gov.au. Feedback can also be provided online at http://www.getinvolved.qld.gov.au/gi/consultation/205/view.html.

    MEDIA CONTACT: Premier’s Office - 07 32244500