The Queensland Future Growth Corporation was a statutory body established by the previous Government to administer the Queensland Future Growth Fund. The Fund was created to provide funding for infrastructure and initiatives that would benefit the future economy and environmental sustainability of Queensland.
Following a review into the operations of the Corporation, it was established that there were no financial benefits to the State in continuing to operate the Fund, particularly as the majority of the funding allocations have now been completed.
Accordingly, the Queensland Government has repealed the Future Growth Fund Act 2006 facilitating the closure of the Fund, effective 1 July 2013. The remaining commitments of the Fund relating to Smart State projects and education infrastructure will continue to be met but without the additional and unnecessary administrative burden of needing to maintain and account for them in a separate entity. The remaining balance of the Fund was transferred to the Consolidated Fund where it will be held until required by the departments responsible for delivering the remaining projects.
The Queensland Future Growth Corporation Annual Report 2012-13 is an important part of our corporate governance framework. It ensures accountability to the Queensland Parliament and the community about the Corporation and the activities of the Fund. As the Fund is now closed, this will be the final report for the Corporation.
The electronic versions of the Queensland Future Growth Corporation Annual Report provided on this site are for information purposes only. Official copies of annual reports, as tabled in the Legislative Assembly of Queensland, can be accessed from the Queensland Parliament tabled papers website.