logo
Queensland Productivity Commission begins work, as hospitals get ‘rescue plan'

Queensland Productivity Commission begins work, as hospitals get ‘rescue plan'

Five weeks after passing a bill to reinstate its Productivity Commission, the Queensland government has handed down its first order to the much-anticipated governmental body on Thursday.
Treasurer David Janetzki revealed on Thursday the commission was ready to begin its first task – a review into the Queensland building and construction industry – and delivered the terms of reference for the report.
'This important work by the Productivity Commission will drive up productivity and drive down cost pressures,' he said.
Janetzki also announced Angela Moody – a senior executive with experience in financial and regulatory policy in gas, water, and electricity industries – had been appointed as Productivity Commissioner.
The commission was first established in 2015. In 2021, the then-Labor state government dissolved the commission, integrating it back into the Treasury 'to establish the new Office of Productivity and Red Tape Reduction'.
Loading
The new LNP government promised to reinstate the productivity commission, which it expected would combat blow outs in costs and delivery dates for major state infrastructure builds.
In another governmental review, seen by cabinet on Tuesday, cost blow outs were attributed to poor planning, rather than construction industry turmoil.
The review found a series of health sector upgrades covering 11 existing and three new hospitals, plus the new Queensland Cancer Centre slated for Herston, had been planned over a six-week period in 2022.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Labor reluctant to make changes to super proposal
Labor reluctant to make changes to super proposal

West Australian

time30 minutes ago

  • West Australian

Labor reluctant to make changes to super proposal

Treasurer Jim Chalmers is remaining firm on proposed superannuation changes, as Labor goes back to the drawing board to negotiate with the Greens. Under the proposal, the concessional tax rate would double to 30 per cent on the portion of super balances above $3 million. The policy aims to curb the number of high net-worth individuals using superannuation for tax deduction purposes rather than for their retirement. Dr Chalmers said the government didn't have the numbers in the Senate to pass the legislation and needed to engage with the crossbench. "Our intention and our preference would be to legislate what we announced," he told ABC radio on Thursday. "We've done years of consultation now. "In this case, with the Greens in the Senate to try and legislate the plan that we announced all of those years ago." With the median super balance for 60 to 64 year olds sitting at roughly $200,000 for men and $150,000 for women, the vast majority of Australians are unlikely to feel the impact of Labor's proposal. It is estimated to affect 0.5 per cent of Australian savers, or roughly 80,000 people according to the Australia Institute. The wealthiest 10 per cent are receiving 40 per cent of superannuation tax breaks, the treasurer says. The 42 self-managed super funds with more than $100 million in assets receive more than $140 million every year in tax breaks, according to reports. But the coalition has vowed to fight back against the policy, as they are opposed to any tax on unrealised gains. Shadow treasurer Ted O'Brien said he didn't believe it was a "fair call" and said younger Australians would be caught in the net over time. "Our belief as a coalition ... is that Australia should have lower tax, simpler tax, and fairer tax, and what Labor is putting on the table with its superannuation tax breaches all of those things," he told ABC's News Breakfast. "Every aspect of this is looking awful, and it certainly does not align with our values as a Liberal Party, or indeed, a Liberal National coalition." Critics say the policy's introduction of a tax on unrealised capital gains goes against the fundamentals of the tax system and would have unintended consequences, such as driving investment off-shore and threatening Australia's financial stability. Unrealised gains are 'paper profits' - increases in the value of assets such as properties or shares that haven't been cashed in. On Wednesday, Dr Chalmers said calculation of unrealised gains was not unique in the tax system, and that any losses can be carried forward against any gains. Tax on unrealised gains is already part of the Australian tax system and is, for example, paid under land tax regimes. The Greens support the legislation in principle but want the threshold lowered to $2 million and indexed in line with inflation. Greens senator Sarah Hanson-Young said the ball was in the government's court. "We want a reform to the system that makes it stronger and fairer," she told Sky News on Thursday.

Labor reluctant to make changes to super proposal
Labor reluctant to make changes to super proposal

Perth Now

time31 minutes ago

  • Perth Now

Labor reluctant to make changes to super proposal

Treasurer Jim Chalmers is remaining firm on proposed superannuation changes, as Labor goes back to the drawing board to negotiate with the Greens. Under the proposal, the concessional tax rate would double to 30 per cent on the portion of super balances above $3 million. The policy aims to curb the number of high net-worth individuals using superannuation for tax deduction purposes rather than for their retirement. Dr Chalmers said the government didn't have the numbers in the Senate to pass the legislation and needed to engage with the crossbench. "Our intention and our preference would be to legislate what we announced," he told ABC radio on Thursday. "We've done years of consultation now. "In this case, with the Greens in the Senate to try and legislate the plan that we announced all of those years ago." With the median super balance for 60 to 64 year olds sitting at roughly $200,000 for men and $150,000 for women, the vast majority of Australians are unlikely to feel the impact of Labor's proposal. It is estimated to affect 0.5 per cent of Australian savers, or roughly 80,000 people according to the Australia Institute. The wealthiest 10 per cent are receiving 40 per cent of superannuation tax breaks, the treasurer says. The 42 self-managed super funds with more than $100 million in assets receive more than $140 million every year in tax breaks, according to reports. But the coalition has vowed to fight back against the policy, as they are opposed to any tax on unrealised gains. Shadow treasurer Ted O'Brien said he didn't believe it was a "fair call" and said younger Australians would be caught in the net over time. "Our belief as a coalition ... is that Australia should have lower tax, simpler tax, and fairer tax, and what Labor is putting on the table with its superannuation tax breaches all of those things," he told ABC's News Breakfast. "Every aspect of this is looking awful, and it certainly does not align with our values as a Liberal Party, or indeed, a Liberal National coalition." Critics say the policy's introduction of a tax on unrealised capital gains goes against the fundamentals of the tax system and would have unintended consequences, such as driving investment off-shore and threatening Australia's financial stability. Unrealised gains are 'paper profits' - increases in the value of assets such as properties or shares that haven't been cashed in. On Wednesday, Dr Chalmers said calculation of unrealised gains was not unique in the tax system, and that any losses can be carried forward against any gains. Tax on unrealised gains is already part of the Australian tax system and is, for example, paid under land tax regimes. The Greens support the legislation in principle but want the threshold lowered to $2 million and indexed in line with inflation. Greens senator Sarah Hanson-Young said the ball was in the government's court. "We want a reform to the system that makes it stronger and fairer," she told Sky News on Thursday.

Labor open to increasing defence spending
Labor open to increasing defence spending

Sky News AU

timean hour ago

  • Sky News AU

Labor open to increasing defence spending

Labor has revealed it's open to increasing defence spending and boosting military forces. Defence Industry Minister Pat Conroy says $57 billion of additional funding has been made since Labor took office. Mr Conroy has criticised a new Cost of Defence report, which hints at the Coalition injecting more cash into defence, as well as suggesting the defence force is not prepared for near-term conflict. It follows remarks made by the US this week, which has called on Australia to increase funding to 3.5 per cent of GDP.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store