News

Port lease deal unlikely to fail, economist says

ECONOMIST and professor John Quiggin says it would be "incredibly rare" that the Gladstone Port would not be leased, regardless of the offer.

His comments come in response to a promise yesterday by Premier Campbell Newman, speaking from Rockhampton, who said the LNP would keep the assets if they did not get "full value" on the market.

Mr Newman said, if necessary, he would follow the NSW government that have reportedly taken their power stations off the market.

"We will ensure we get the proper value for any asset," he said. "We would retain assets if we weren't getting full value."

When asked what this would mean for the LNP's proposed infrastructure fund - which asset leasing will pay for - Mr Newman said he was confident the market was there for the assets.

But, a professor for the University of Queensland, Quiggin, said historically once assets were listed on the market the sales have always gone ahead.

"It's incredibly rare for assets to be offered on the market and not be sold," he said.

The leases would be for 50 years with an option to extend for a further 49 years.

The LNP has predicted the leases would yield $37 billion. The party plans to use $25 billion to help reduce the $80 billion state debt.

Any company that leased the Gladstone Port would be taking over assets worth $1.96 billion and an operational revenue of $644.4 million.

Mr Newman is expected to visit Gladstone during the election campaign.

Topics:  asset lease, campbell newman, gladstone port, queensland election 2015




Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

THE EXPERT: Stop judging working mothers

SUPER MUMS: Being a working mums comes down to perfecting time management.

"WORKING for money is all right; so is working because you want to.”

OPINION: How to prepare your child for day care

Your kids will love childcare, but it may take some adjusting.

GETTING your child ready for day care is vital.

MUMS' TOP 5: 'Musts' to have on your childcare checklist

SOME FALL SHORT: Organisations that train childcare workers will be subjected to extra audits.

SENDING your child off to day care can be daunting and confusing.

Health and nutrition with kids - how do you balance it?

HOW important is health and nutrition in your household?

Smack or no smack - where do you stand?

THE debate is reignited - is smacking acceptable?

Technology and kids: Do you ever cut their wi-fi?

Check out our new video series featuring mums having a chat

VIDEO: Inside Mt Larcom Show's chain saw man den

Philip Waters is still chain sawing aged 67.

IT’S Mt Larcom Show’s man den, but a man's girlfriend got him in it.

WARNING: Croc sighting at Boyne river

Never smile at a crocodile!   Photo Colleen Delaney

"Decent sized" croc sighted on Boyne River

Star-struck Gladstone man seeks selfie with Pauline Hanson

Pauline Hansen in Gladstone June 24, 2016. Pauline and Fraser Anning.Photo Mike Richards / The Observer

FLYNN voter visits his favourite pollie.

Latest deals and offers

Is this state’s cheapest house?

BARGAIN BUY: Is this North Bundaberg property the cheapest home in Queensland?

Becoming a real estate mogul is all about risk and reward

Cheap, cheap rental in Gladstone

$150/week for 6 Drynan Dr, Calliope

Cheap cheap rental in Gladstone