The Queensland Government has published its official response to the impressive 155 recommendations contained within the much awaited Independent Commission of Audit’s Final Report.

State Treasurer, Tim Nicholls, said that the report will provide a blueprint for the ‘fiscal and economic challenges facing Queensland.’

“The report makes it very clear that business as usual is not an option if we want to repair Queensland’s parlous fiscal position,” Mr Nicholls said.

“The Commission of Audit’s modelling shows us that the economic growth rate over the next 40 years will be significantly lower than it has been over the last 25 years.”

Of the 155 recommendations made by the Independent Commission of Audit, the State Government has confirmed it will fully adopt 118, while a further 13 are noted and six not accepted, with the remainder being placed under consideration.

Mr Nicholls said that the majority of the Government’s opposition to some of the recommendations come from the proposed sale of key assets.

“The Final Report makes recommendations on the sale of Government businesses, but the Government’s position remains unchanged,” Mr Nicholls said.

“An open and informed debate is required and the Government will not sell these businesses without a mandate from the people of Queensland.

Mr Nicholls said the Government was at pains to stress that it had no intention on selling off government-owned electricity assets.

“However we will be investigating the possibility of divesting other businesses, including Stanwell, CS Energy, QIC, the Port of Gladstone and the Port of Townsville,” Mr Nicholls said.

“Unlike the previous Bligh-Fraser Labor Government, which embarked on a fire sale of assets, the Newman Government will be guided by what is in the best interest of Queenslanders in any future decision.”

Mr Nicholls said the report was about much more than government ownership, with only five of the Final Report’s recommendations relating to the sale of government businesses.

He said the only way the Government could expand and improve frontline services for Queenslanders was to fundamentally change the way services are delivered.

“The report recommends the government continue to provide core services such as policing, public safety, emergency and justice services,” Mr Nicholls said.