Tag Archives: gocs

States across Australia borrow to build – my recent state debt commentary

Posted on August 2, 2019 by Gene Tunny

I’ve been talking a lot about Queensland state debt lately, including with the Infrastructure Association of Queensland’s Funders Taskforce on the morning of Friday 19 July. The main points I made were as follows. Queensland’s gross state government debt, on … Continue reading →

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Coal, climate change, solar & batteries – why Qld Treasury wanted to offload the state’s energy assets

Posted on December 14, 2018 by Gene Tunny

The recent Financial Times report Development bank halts coal financing to combat climate change, reprinted in this morning’s AFR, should prompt some serious long-term thinking from the Queensland government and local governments with regional economies heavily dependent on coal mining, … Continue reading →

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Qld Government wants electricity GOC dividends to do double duty

Posted on October 23, 2017 by Gene Tunny

Yesterday’s media release from the Queensland Premier and Energy Minister on the $2 billion Affordable Energy Plan appears to have been prepared without Queensland Treasury input, as it is very loose in its discussion of the budget impact. The media … Continue reading →

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Qld Audit Office identifies risks to energy businesses from State debt reshuffle

Posted on November 30, 2016 by Gene Tunny

In a report published today on Queensland’s government-owned energy businesses, the Queensland Audit Office has flagged risks associated with the Government’s debt reshuffle (on the debt reshuffle, see this QEW post from December last year). Here is the relevant extract … Continue reading →

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Qld second biggest winner from GST redistribution

Posted on April 11, 2016 by Gene Tunny

Queensland is the second biggest winner from the carve up of GST revenue that is dictated by the Commonwealth Grants Commission. In 2016-17, Queensland is to receive $2.1 billion more than we would if the GST revenue, which is collected … Continue reading →

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Merger savings good if they occur, but debt shuffle dubious

Posted on December 15, 2015 by Gene Tunny

I am very flattered the Courier-Mail has a story about me this morning with the title on its website of The man who could clear Qld’s deficit: THE forecast deficit of $1.5 billion could be overcome by courageous decisions made … Continue reading →

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Energy GOCs equity raid a good example of problem with public ownership

Posted on October 8, 2015 by Gene Tunny

I was quoted in the Courier-Mail this morning regarding the $3.5 billion the Queensland Government has withdrawn from equity in its power businesses (see chart above) for the purposes of paying down debt (see Earnings grab quick debt fix, Pitt … Continue reading →

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Qld Government opts for accounting tricks rather than true budget repair

Posted on July 14, 2015 by Gene Tunny

In the 2015-16 Queensland Budget, the Government has shown it subscribes to the maxim that one might as well be hanged for a sheep as for a lamb. The Government is undertaking at least three measures of dubious merit, including … Continue reading →

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QIC could still invest Govt super funds in GOCs, while Govt would argue it hasn’t technically raided super

Posted on July 13, 2015 by Gene Tunny

I recalled a great scene from one of my all-time favourite movies All the President’s Men when the Queensland Government today issued what may be a “non-denial denial” regarding the alleged Budget plan to use super funds to pay down … Continue reading →

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Accounting trick wouldn’t improve Qld Government’s real financial position

Posted on July 10, 2015 by Gene Tunny

Today’s Courier-Mail features an exclusive from State Political Reporter Steven Wardill on “Pitt’s Debt Trick.” It suggests the Government intends to transfer $4.1 billion of debt from the General Government sector (i.e. the government agencies such as health and education) … Continue reading →

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