Queensland opts for port leasing option

State premier Campbell Newman said the Government had decided on a lease option, rather than a sale, because of community concerns.

Treasurer Tim Nicholls said the public had made it clear they wanted the Government to deal with the state’s A$$80bn debt, but also wanted to retain state control over the assets.

“Leasing some assets is the strongest and smartest choice because it will generate the funds needed to bring the State’s debt back under control, while ensuring Queenslanders always retain ownership,” Mr Nicholls said. “Under our plan the Government would write strict lease conditions to ensure Queenslanders’ interests were upheld.”

Under the State’s final ‘Strong Choices’ plan the leases would be for 50 years with an option to extend for a further 49 years. Conditions would be inserted regarding the appropriate use of land and assets, safety requirements and service levels.