After a mid-year budget revenue hit due to a struggling coal sector in the state, there has been pressure to sell off assets which come to light via the Costello final Commission of Audit report into finances is prepared to be released. Despite the revenue slump, the QLD Newman government is still predicting to return to fiscal surplus in 2014/15
The Queensland Government has promised to keep its commitment to seek a mandate before selling any power assets in the state, however, the Electrical Trades Union (ETU) has expressed that the government has already made up its mind on the issue. Peter Simpson from the ETU commented “They’ve been telling us for sometime that especially in the generation sector that they’ve been manipulating the market to set this up for sale, making it more attractive so that buyers will want to buy it.”
The Australian Financial Review reported that the Costello Report, an audit by former treaurer Peter Costello will advocate the privatisiation of electricity assets in the state including CS Energy and Stanwell Corporation, and transmission company Powerlink.
Treasurer Tim Niccolls says the government is yet to recieve the final report, however, if there is a recommendations for the sale of assets, this will be taken to the people of Queensland in an election.
Labor was voted from office in Queensland in March 2012 after selling port and rail assets without an electoral mandate.
