Northbank funds money well spent to return river to the people: Lucas

Spending money on getting the design of North Bank right and returning the Brisbane River to the people of Queensland was money well spent, Deputy Premier and Minister for Infrastructure and Planning Paul Lucas said today.

An estimates committee hearing today was told $3 million of the $5 million spent by the Department of Infrastructure and Planning on the project could be recouped when it is built.

“I make absolutely no apology for taking the time to listen to the community and make sure the people of Brisbane get the North Bank they want,” said Mr Lucas.

“Opposition infrastructure spokeswoman Fiona Simpson has again shown she doesn’t understand government or even simple economics, by claiming this is a cost to the taxpayer.

Mr Lucas said he had made it clear that if the project was built the State Government expected it to be constructed at no cost to taxpayers.

"But that doesn't mean the State Government doesn't need to use resources to assess projects like this."

“Under the original bid conditions $3 million would be recouped from the preferred developer when North Bank gets the go ahead.

“What’s more, analysis shows North Bank could generate more than $2 billion dollars in benefits for the Queensland economy.

“This project has the potential to create around 3,000 construction jobs and generate around 5000 ongoing jobs.

“On top of this there is a significant boost expected for the Tourism sector of at least $2 million in extra money spent by visitors every year.”

“The eyesore of the Riverside Expressway is the National Party’s legacy, North Bank will give this stretch of the river back to the people of Brisbane.

“But if built, it will generate massive revenue for Queensland through employment, tourism and GST revenuw, which would swamp any money spent assessing the project.”

Media contacts: Matthew Klar 0437 435 223 and Robert Hoge 0419 757 868