Future Fund delivers: Bligh

5 June 2007

Water projects, clean coal technology, renewable energy initiatives, social housing and Smart State Research are the big winners from the Queensland Future Growth Fund’s over $3 billion.

Deputy Premier and Treasurer Anna Bligh announced during 2006 the Government’s commitment to and completed on 2007 the sale of electricity and gas retail businesses to ensure a competitive energy market.

Through that process the State realised over $3 billion, which the Government used to establish the Queensland Future Growth Fund.

“The Future Growth Fund allocations announce today ensure that this return on the energy retail assets is invested back into State infrastructure.

Ms Bligh outlined that the Fund will provide:

• $1 billion for enhanced water projects
• $600 million for commercial infrastructure including in the Government’s energy corporations
• $500 million to social housing
• $500 million for transport infrastructure
• $300 million to clean coal technology research projects
• $100 million for renewable energy initiatives, and
• $100 million to Smart State research projects

“These investments are about the future of Queensland and its long term economic growth.”

Media contact: Deputy Premier’s Office 3224 6900