Latest news with #Janetzki
The Age
30-06-2025
- 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
30-06-2025
- 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
30-06-2025
- 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.
Sky News AU
30-06-2025
- Business
- Sky News AU
'Complete bulls***': War of words erupts between Victorian Premier and Queensland Treasurer over GST carve up
A war of words has erupted between two of Australia's largest states after Queensland Treasurer David Janetzki blamed the Victoria and New South Wales governments for the Queensland's $8.6 billion budget black hole. Mr Janetzki used a speech on Monday to claim Queenslanders are being forced to compensate Victoria and NSW for their 'policy failures' as a result of the latest carve-up of GST revenue, which will see the state deprived of $5.3 billion over the next three years. 'Queensland, with its own newly re-established Productivity Commission, is doing the heavy lifting on productivity; our gas is solving the southern states' energy crisis and our GST revenue is going to Victoria to keep their hospital lights on,' the LNP Treasurer said. Queensland's share of GST revenue and 'no worse off payments' is set to fall by $2.3 billion in 2025-26, while Victoria's share will increase by almost $4 billion. But Victoria Premier Jacinta Allan hit back at the Queensland Treasurer on Monday. 'Let me put it in language and in a way that the Queensland treasurer can understand. It's just bulls***,' Premier Allan told reporters. 'Because when you look at the history of the GST, Victoria has been a net contributor to the tune of $31 billion and the Queensland budget's black hole, their 8-billion-plus black hole, has got nothing to do with the circumstances here in Victoria.' The Commonwealth Grants Commision's calculations show the largest factor in their decision to recommend a drop in Queensland's GST revenues was a massive boost in the state's coal royalties. But Mr Janetzki took aim at other calculations used for the determination. 'We were stripped of $800m to reimburse New South Wales and Victoria for Covid-19 policy failures, five years after the fact,' the LNP Treasurer said. He also claimed Victoria had received 'twice as much funding for ferries as Brisbane' despite more than 4 million people using Brisbane's ferries and Melbourne only operating the barely-used Westgate Punt. But Premier Allan described this as 'nonsense'. 'What a load of nonsense. What a load of misinformed nonsense,' she said 'I think we've made an investment of something like $600,000 over two years into the Westgate Punt. This isn't the cause of Queensland's budget challenges - their $8.6 billion black hole. 'I think the Queensland treasurer would be better off focusing on the facts and focusing on what we need to all focus on as state governments, and that is working with the federal government, securing a fairer share of infrastructure funding, of GST allocation. 'These nonsensical pot shots across state borders are just that - complete nonsense.' The CGC's latest GST distribution shows Queensland will get back 85 cents for every $1 of GST revenue it contributes in 2025-26, down from 95 cents in 2024-25. This compares to Victoria's share, which is set to increase from 96 cents to just over $1 over the same period. However 2025-26 will be the first year Victoria has received back more GST revenue than it has contributed, whereas Queensland has received more revenue than it has contributed for 19 of the past 25 years.
Perth Now
30-06-2025
- Business
- Perth Now
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.
