Latest news with #DavidJanetzki
Sky News AU
2 days ago
- Business
- Sky News AU
Queensland government set to privatise Olympic build
The Queensland government is set to privatise its infrastructure development for the Brisbane 2032 Olympics. Treasurer David Janetzki confirmed the establishment of a dedicated unit in his department for infrastructure investment from the private sector. Public-private partnerships could become the new norm for funding major Olympic venues, such as Victoria Park. In addition to this, joint funding deals could also cover the construction costs of the $650 million aquatic centre.
The Age
3 days ago
- Business
- The Age
New TTT to deliver more PPPs for Queensland
The Queensland government will set up a new Treasury Transaction Team to attract private capital to help the government deliver its infrastructure pipeline, the treasurer announced on Monday. As for the extent of government infrastructure being targeted for private investment, David Janetzki cited three potential targets – energy, housing and stadiums. Janetzki announced the TTT during a Committee for Economic Development of Australia address in South Brisbane, telling assembled business people Queensland was 'open for business' while also taking a swipe at Victoria over GST shares. 'In an era of challenging government debt and challenging balance sheets, deliberate deployment of diverse capital has never been more important,' he said. Janetzki said the TTT, which would be up and running on August 1, would 'explore different models to deliver commercially for investors, while delivering for taxpayers'. Speaking to media following the address, Janetzki said the TTT would be responsible for capital attraction, transaction management and 'sending a clear message to the market that we're open for business'. Asked whether the TTT would result in public-private partnerships (PPPs) in areas not traditionally open to PPPs, Janetzki said: 'We want to send a clear message that we're open for business.' 'The clear element here is that we want to attract private capital into Queensland, whether it be renewables, housing, those investments into the Gabba precinct,' he said. 'That's the kind of thing we're looking at.'
Sydney Morning Herald
3 days ago
- Business
- Sydney Morning Herald
New TTT to deliver more PPPs for Queensland
The Queensland government will set up a new Treasury Transaction Team to attract private capital to help the government deliver its infrastructure pipeline, the treasurer announced on Monday. As for the extent of government infrastructure being targeted for private investment, David Janetzki cited three potential targets – energy, housing and stadiums. Janetzki announced the TTT during a Committee for Economic Development of Australia address in South Brisbane, telling assembled business people Queensland was 'open for business' while also taking a swipe at Victoria over GST shares. 'In an era of challenging government debt and challenging balance sheets, deliberate deployment of diverse capital has never been more important,' he said. Janetzki said the TTT, which would be up and running on August 1, would 'explore different models to deliver commercially for investors, while delivering for taxpayers'. Speaking to media following the address, Janetzki said the TTT would be responsible for capital attraction, transaction management and 'sending a clear message to the market that we're open for business'. Asked whether the TTT would result in public-private partnerships (PPPs) in areas not traditionally open to PPPs, Janetzki said: 'We want to send a clear message that we're open for business.' 'The clear element here is that we want to attract private capital into Queensland, whether it be renewables, housing, those investments into the Gabba precinct,' he said. 'That's the kind of thing we're looking at.'
The Advertiser
3 days ago
- Business
- The Advertiser
Multi-billion dollar green hydrogen project evaporates
A project once touted to produce 800 tonnes of green hydrogen a day by the end of the decade is dead following the collapse of an international consortium. The Central Queensland Hydrogen Project in Gladstone will not go ahead, with Queensland's state-owned Stanwell Corporation confirming its end in the project. "Stanwell has discontinued its involvement in the Central Queensland Hydrogen Project (CQ-H2) project and other hydrogen development activities," the corporation said in a statement. "The CQ-H2 project has been a valuable international collaboration that has provided important technical and commercial knowledge to support the future large-scale commercialisation of renewable hydrogen." Queensland's government announced earlier in 2025 it would not extend any further loans or grants to the project. Treasurer David Janetzki said a fundamental principle of his budget handed down last week was "respect for taxpayer money". "And I made the decision in February that that project in particular, was speculative in nature, and I didn't want to see the precious taxpayer dollar tipped into it," he told reporters on Monday. "I think ... other private sector proponents have looked at it and now the consortium has made a decision to step aside from that project." Federal Energy Minister Chris Bowen said the news comes as no surprise but expressed disappointment. "I think it's a sad day for Gladstone," he told reporters on Monday. "Hundreds of jobs that would have been created now won't be created because of that decision." The hydrogen plant and pipeline was expected to cost $12.5 billion in 2019 before blowing out to nearly $15 billion in 2022. Initial project estimates indicated it could deliver almost 9000 jobs and more than $17.2 billion in hydrogen exports over its 30-year life through gaseous renewable hydrogen converted to renewable ammonia and liquefied hydrogen for export. A project once touted to produce 800 tonnes of green hydrogen a day by the end of the decade is dead following the collapse of an international consortium. The Central Queensland Hydrogen Project in Gladstone will not go ahead, with Queensland's state-owned Stanwell Corporation confirming its end in the project. "Stanwell has discontinued its involvement in the Central Queensland Hydrogen Project (CQ-H2) project and other hydrogen development activities," the corporation said in a statement. "The CQ-H2 project has been a valuable international collaboration that has provided important technical and commercial knowledge to support the future large-scale commercialisation of renewable hydrogen." Queensland's government announced earlier in 2025 it would not extend any further loans or grants to the project. Treasurer David Janetzki said a fundamental principle of his budget handed down last week was "respect for taxpayer money". "And I made the decision in February that that project in particular, was speculative in nature, and I didn't want to see the precious taxpayer dollar tipped into it," he told reporters on Monday. "I think ... other private sector proponents have looked at it and now the consortium has made a decision to step aside from that project." Federal Energy Minister Chris Bowen said the news comes as no surprise but expressed disappointment. "I think it's a sad day for Gladstone," he told reporters on Monday. "Hundreds of jobs that would have been created now won't be created because of that decision." The hydrogen plant and pipeline was expected to cost $12.5 billion in 2019 before blowing out to nearly $15 billion in 2022. Initial project estimates indicated it could deliver almost 9000 jobs and more than $17.2 billion in hydrogen exports over its 30-year life through gaseous renewable hydrogen converted to renewable ammonia and liquefied hydrogen for export. A project once touted to produce 800 tonnes of green hydrogen a day by the end of the decade is dead following the collapse of an international consortium. The Central Queensland Hydrogen Project in Gladstone will not go ahead, with Queensland's state-owned Stanwell Corporation confirming its end in the project. "Stanwell has discontinued its involvement in the Central Queensland Hydrogen Project (CQ-H2) project and other hydrogen development activities," the corporation said in a statement. "The CQ-H2 project has been a valuable international collaboration that has provided important technical and commercial knowledge to support the future large-scale commercialisation of renewable hydrogen." Queensland's government announced earlier in 2025 it would not extend any further loans or grants to the project. Treasurer David Janetzki said a fundamental principle of his budget handed down last week was "respect for taxpayer money". "And I made the decision in February that that project in particular, was speculative in nature, and I didn't want to see the precious taxpayer dollar tipped into it," he told reporters on Monday. "I think ... other private sector proponents have looked at it and now the consortium has made a decision to step aside from that project." Federal Energy Minister Chris Bowen said the news comes as no surprise but expressed disappointment. "I think it's a sad day for Gladstone," he told reporters on Monday. "Hundreds of jobs that would have been created now won't be created because of that decision." The hydrogen plant and pipeline was expected to cost $12.5 billion in 2019 before blowing out to nearly $15 billion in 2022. Initial project estimates indicated it could deliver almost 9000 jobs and more than $17.2 billion in hydrogen exports over its 30-year life through gaseous renewable hydrogen converted to renewable ammonia and liquefied hydrogen for export. A project once touted to produce 800 tonnes of green hydrogen a day by the end of the decade is dead following the collapse of an international consortium. The Central Queensland Hydrogen Project in Gladstone will not go ahead, with Queensland's state-owned Stanwell Corporation confirming its end in the project. "Stanwell has discontinued its involvement in the Central Queensland Hydrogen Project (CQ-H2) project and other hydrogen development activities," the corporation said in a statement. "The CQ-H2 project has been a valuable international collaboration that has provided important technical and commercial knowledge to support the future large-scale commercialisation of renewable hydrogen." Queensland's government announced earlier in 2025 it would not extend any further loans or grants to the project. Treasurer David Janetzki said a fundamental principle of his budget handed down last week was "respect for taxpayer money". "And I made the decision in February that that project in particular, was speculative in nature, and I didn't want to see the precious taxpayer dollar tipped into it," he told reporters on Monday. "I think ... other private sector proponents have looked at it and now the consortium has made a decision to step aside from that project." Federal Energy Minister Chris Bowen said the news comes as no surprise but expressed disappointment. "I think it's a sad day for Gladstone," he told reporters on Monday. "Hundreds of jobs that would have been created now won't be created because of that decision." The hydrogen plant and pipeline was expected to cost $12.5 billion in 2019 before blowing out to nearly $15 billion in 2022. Initial project estimates indicated it could deliver almost 9000 jobs and more than $17.2 billion in hydrogen exports over its 30-year life through gaseous renewable hydrogen converted to renewable ammonia and liquefied hydrogen for export.
The Advertiser
3 days ago
- Business
- The Advertiser
War of words over GST carve-up as states butt heads
A war of words has erupted over the carve-up of GST as one state condemns accusations it was awarded more to reimburse failed COVID-19 policies. Queensland Treasurer David Janetzki accused his southern counterparts of receiving $800 million out of the Sunshine State's GST share to reimburse "COVID-19 failures, five years after the fact". "The GST distribution should not compensate states for any economic or financial mismanagement," he said in his maiden post-budget speech to a Committee for Economic Development of Australia event in Brisbane. "In practice, this doesn't always occur." Queensland's revenue has been hit hard by a $2.3 billion reduction of GST revenue in 2025/26 and more than $5.3 billion over the following three years. The share is 28 per cent higher than a decade ago but significantly lower than a 58 per cent jump for NSW, Victoria's 118 per cent rise and Western Australia's whopping 317 per cent. "Queensland's unprecedented GST reduction ... has punched a hole in revenue forecasts," Mr Janetzki said. The state budget revealed a record $205 billion debt blackhole by 2028/29 and an $8 billion deficit in the next financial year. Mr Janetzki also claimed Melbourne received twice as much funding for ferries as Brisbane, which was a reflection on the Commonwealth Grants Commission's "fundamental misunderstanding" of transport infrastructure in a decentralised state. "They effectively assume the cost of serving a resident in Ballarat, 113 kilometres from Melbourne, is the same as the cost of serving a resident in Mackay, 968 kilometres from Brisbane," he said. But Victorian Premier Jacinta Allan refuted Mr Janetzki's claims, using choice words to condemn the Queensland treasurer's allegations. "Perhaps, let me put it in language in a way that the Queensland treasurer can understand - it's just bullshit," she said. "Because when you look at the history of GST, Victoria has been a net contributor to the tune of $31 billion. "And the Queensland budget's blackhole, their $8 billion-plus black hole, has got nothing to do with the circumstances here in Victoria." Ms Allan said she does not want to quibble with another state over "nonsense" instead focusing on Victoria receiving its "fair share". But the quibble continued when Mr Janetzki rebuffed that "the facts speak for themselves". "The facts couldn't be any clearer," he told reporters. "Canberra's carver has sold Queensland down the river to keep Victoria afloat." It is not the first time a war of words has escalated over the GST carve-up after former Victorian Treasurer Tim Pallas called NSW Premier Chris Minns "mathematically challenged". "He might not be the sharpest tool in the shed but he is a tool," Mr Pallas said last year. It occurred over the 2024/25 distribution that saw NSW and Queensland's share fall while Victoria received a boost. A war of words has erupted over the carve-up of GST as one state condemns accusations it was awarded more to reimburse failed COVID-19 policies. Queensland Treasurer David Janetzki accused his southern counterparts of receiving $800 million out of the Sunshine State's GST share to reimburse "COVID-19 failures, five years after the fact". "The GST distribution should not compensate states for any economic or financial mismanagement," he said in his maiden post-budget speech to a Committee for Economic Development of Australia event in Brisbane. "In practice, this doesn't always occur." Queensland's revenue has been hit hard by a $2.3 billion reduction of GST revenue in 2025/26 and more than $5.3 billion over the following three years. The share is 28 per cent higher than a decade ago but significantly lower than a 58 per cent jump for NSW, Victoria's 118 per cent rise and Western Australia's whopping 317 per cent. "Queensland's unprecedented GST reduction ... has punched a hole in revenue forecasts," Mr Janetzki said. The state budget revealed a record $205 billion debt blackhole by 2028/29 and an $8 billion deficit in the next financial year. Mr Janetzki also claimed Melbourne received twice as much funding for ferries as Brisbane, which was a reflection on the Commonwealth Grants Commission's "fundamental misunderstanding" of transport infrastructure in a decentralised state. "They effectively assume the cost of serving a resident in Ballarat, 113 kilometres from Melbourne, is the same as the cost of serving a resident in Mackay, 968 kilometres from Brisbane," he said. But Victorian Premier Jacinta Allan refuted Mr Janetzki's claims, using choice words to condemn the Queensland treasurer's allegations. "Perhaps, let me put it in language in a way that the Queensland treasurer can understand - it's just bullshit," she said. "Because when you look at the history of GST, Victoria has been a net contributor to the tune of $31 billion. "And the Queensland budget's blackhole, their $8 billion-plus black hole, has got nothing to do with the circumstances here in Victoria." Ms Allan said she does not want to quibble with another state over "nonsense" instead focusing on Victoria receiving its "fair share". But the quibble continued when Mr Janetzki rebuffed that "the facts speak for themselves". "The facts couldn't be any clearer," he told reporters. "Canberra's carver has sold Queensland down the river to keep Victoria afloat." It is not the first time a war of words has escalated over the GST carve-up after former Victorian Treasurer Tim Pallas called NSW Premier Chris Minns "mathematically challenged". "He might not be the sharpest tool in the shed but he is a tool," Mr Pallas said last year. It occurred over the 2024/25 distribution that saw NSW and Queensland's share fall while Victoria received a boost. A war of words has erupted over the carve-up of GST as one state condemns accusations it was awarded more to reimburse failed COVID-19 policies. Queensland Treasurer David Janetzki accused his southern counterparts of receiving $800 million out of the Sunshine State's GST share to reimburse "COVID-19 failures, five years after the fact". "The GST distribution should not compensate states for any economic or financial mismanagement," he said in his maiden post-budget speech to a Committee for Economic Development of Australia event in Brisbane. "In practice, this doesn't always occur." Queensland's revenue has been hit hard by a $2.3 billion reduction of GST revenue in 2025/26 and more than $5.3 billion over the following three years. The share is 28 per cent higher than a decade ago but significantly lower than a 58 per cent jump for NSW, Victoria's 118 per cent rise and Western Australia's whopping 317 per cent. "Queensland's unprecedented GST reduction ... has punched a hole in revenue forecasts," Mr Janetzki said. The state budget revealed a record $205 billion debt blackhole by 2028/29 and an $8 billion deficit in the next financial year. Mr Janetzki also claimed Melbourne received twice as much funding for ferries as Brisbane, which was a reflection on the Commonwealth Grants Commission's "fundamental misunderstanding" of transport infrastructure in a decentralised state. "They effectively assume the cost of serving a resident in Ballarat, 113 kilometres from Melbourne, is the same as the cost of serving a resident in Mackay, 968 kilometres from Brisbane," he said. But Victorian Premier Jacinta Allan refuted Mr Janetzki's claims, using choice words to condemn the Queensland treasurer's allegations. "Perhaps, let me put it in language in a way that the Queensland treasurer can understand - it's just bullshit," she said. "Because when you look at the history of GST, Victoria has been a net contributor to the tune of $31 billion. "And the Queensland budget's blackhole, their $8 billion-plus black hole, has got nothing to do with the circumstances here in Victoria." Ms Allan said she does not want to quibble with another state over "nonsense" instead focusing on Victoria receiving its "fair share". But the quibble continued when Mr Janetzki rebuffed that "the facts speak for themselves". "The facts couldn't be any clearer," he told reporters. "Canberra's carver has sold Queensland down the river to keep Victoria afloat." It is not the first time a war of words has escalated over the GST carve-up after former Victorian Treasurer Tim Pallas called NSW Premier Chris Minns "mathematically challenged". "He might not be the sharpest tool in the shed but he is a tool," Mr Pallas said last year. It occurred over the 2024/25 distribution that saw NSW and Queensland's share fall while Victoria received a boost. A war of words has erupted over the carve-up of GST as one state condemns accusations it was awarded more to reimburse failed COVID-19 policies. Queensland Treasurer David Janetzki accused his southern counterparts of receiving $800 million out of the Sunshine State's GST share to reimburse "COVID-19 failures, five years after the fact". "The GST distribution should not compensate states for any economic or financial mismanagement," he said in his maiden post-budget speech to a Committee for Economic Development of Australia event in Brisbane. "In practice, this doesn't always occur." Queensland's revenue has been hit hard by a $2.3 billion reduction of GST revenue in 2025/26 and more than $5.3 billion over the following three years. The share is 28 per cent higher than a decade ago but significantly lower than a 58 per cent jump for NSW, Victoria's 118 per cent rise and Western Australia's whopping 317 per cent. "Queensland's unprecedented GST reduction ... has punched a hole in revenue forecasts," Mr Janetzki said. The state budget revealed a record $205 billion debt blackhole by 2028/29 and an $8 billion deficit in the next financial year. Mr Janetzki also claimed Melbourne received twice as much funding for ferries as Brisbane, which was a reflection on the Commonwealth Grants Commission's "fundamental misunderstanding" of transport infrastructure in a decentralised state. "They effectively assume the cost of serving a resident in Ballarat, 113 kilometres from Melbourne, is the same as the cost of serving a resident in Mackay, 968 kilometres from Brisbane," he said. But Victorian Premier Jacinta Allan refuted Mr Janetzki's claims, using choice words to condemn the Queensland treasurer's allegations. "Perhaps, let me put it in language in a way that the Queensland treasurer can understand - it's just bullshit," she said. "Because when you look at the history of GST, Victoria has been a net contributor to the tune of $31 billion. "And the Queensland budget's blackhole, their $8 billion-plus black hole, has got nothing to do with the circumstances here in Victoria." Ms Allan said she does not want to quibble with another state over "nonsense" instead focusing on Victoria receiving its "fair share". But the quibble continued when Mr Janetzki rebuffed that "the facts speak for themselves". "The facts couldn't be any clearer," he told reporters. "Canberra's carver has sold Queensland down the river to keep Victoria afloat." It is not the first time a war of words has escalated over the GST carve-up after former Victorian Treasurer Tim Pallas called NSW Premier Chris Minns "mathematically challenged". "He might not be the sharpest tool in the shed but he is a tool," Mr Pallas said last year. It occurred over the 2024/25 distribution that saw NSW and Queensland's share fall while Victoria received a boost.
