Statement by the Treasurer

10 March 2009

1. Is the state’s infrastructure program financed year on year?

Answer: Yes.

2. Is the finance secure for this year’s program?

Answer: Yes.

3. Is the finance raised each year for government, GOC’s, councils and universities together?

Answer: Yes.

4. Will the finance be raised for next year?

Answer: Yes, just as QTC has raised its program each and every year since its inception.

5. What is the medium term outlook in credit markets, because of the global financial crisis?

Answer: It is uncertain – for everyone.

6. Who is better placed to raise finance – a sovereign authority with a AA+ rating such as QTC or one individual council seeking to access funds from private banks?

Answer: QTC

7. Does Campbell Newman need permission to talk to private banks?

Answer: No, he didn’t ask my permission to spend $70 000 travelling around the world trying to unsuccessfully secure finance for his Northern Link project.

8. Are any of Council’s programs at risk?

Answer: No, I am confident that the finance will be raised as it has each and every year.

9. Council claims it is debt free – why is this?

Answer: Because the state government provided them with $1.01 billion in compensation for their water assets.

10. So why is he asking for permission to talk to banks now and saying that future funding is an issue?

Answer: Could it have anything to do with 21 March?

Contact (Treasurer’s office): 3224 6361 or 3224 5982