I was pleased to see that Premier Newman has appointed Peter Costello to head the Commission of Audit (Newman hires Costello for financial check-up). Costello is first class and did a good job in restraining excessive spending under the Howard Government (yes, it could have been much worse), including stopping the Howard Government from adopting the home insulation/pink batts scheme (see Federal run health another batty idea). Unfortunately the Rudd Government wasn’t as perceptive.
If I were advising the Commission of Audit, the first thing I’d put in front of them is the Productivity Commission’s Trade and Assistance Review 2009-10 which outlines the extent of industry assistance/corporate welfare provided by the Queensland Government. Industry assistance costs the Government around $800 million per annum: