The year in review – Financial and economic policy
| Business priority | Highlights | The year ahead |
|---|---|---|
|
Manage and coordinate the State Budget process within agreed timeframes and achieve a sound fiscal position. |
Developed the 2008–09 State Budget, the 2006–07 Report on State Finances and the 2007–08 Mid-Year Fiscal and Economic Review. |
Monitor the 2008–09 State Budget. Develop the 2009–10 State Budget.
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Conducted a comprehensive audit of the Queensland Ambulance Service to improve the efficiency and effectiveness of services. |
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Work with the Queensland Water Commission to develop and implement new institutional arrangements for urban water supply in South East Queensland. |
Established four new water statutory authorities responsible for the provision of bulk water services in South East Queensland. |
Work with authorities and agencies on governance frameworks to support authorities’ ability to deliver services to Queenslanders. |
|
Review and identify opportunities to improve the financial management framework. |
Continued a project to modernise the Financial Administration and Audit Act 1977. |
Develop new legislation – the Financial Accountability Act. |
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Provide commercial and financial advice to the Government on major asset management and infrastructure projects, and work with agencies on projects under the Public Private Partnerships Policy and Value for Money Framework. |
Finalised the sale of four of the State’s wind farms, a number of development projects and the Enertrade Gas Business. The proceeds from these sales will be used for initiatives such as the ClimateSmart Home Service. |
Continue to work with agencies on evaluating and implementing a range of infrastructure projects. Finalise the disposal of Cairns Airport, Mackay Airport and the State’s 12.4 percent shareholding in Brisbane Airport. |
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Advised Government agencies on projects to determine their suitability as public/private partnerships, including Airport Link. |
Continue to work with agencies on implementing this and other infrastructure delivery projects. |
Financial summary
| 2007–08 | 2006–07 | |
|---|---|---|
| State contribution | $63.57M1 | $27.63M |
| Other income | $300,0002 | $27.26M |
| Full-time equivalent employees | 262 | 229 |
1. Increase due to South East Queensland water reform, inquiry into the Fuel Subsidy Scheme, and the sale of water and gas assets.
2. User charges relating to the sale of electricity assets to Origin Energy were finalised in 2006–07.
Stronger economic growth
Analysis: The Queensland economy is expected to have expanded by 3¾ percent in 2007-08 and to have exceeded national growth (estimated at 3½ percent in the Commonwealth Budget) for the 12th consecutive year.
The strength of the Queensland economy is expected to continue, with Queensland's growth forecast to strengthen to 4¼ percent in 2008-09 while national growth is forecast to ease to 2¾ percent.
Last reviewed 22 October 2012
