Cairns to have a say on Queensland Education Trust

by | Jan 31, 2012 | Media Releases

Residents of Far North Queensland are being encouraged to have their say on the State Government’s proposed multi-billion dollar Queensland Education Trust (QET) and how it should operate.  

Member for Mulgrave Curtis Pitt will attend a community forum tomorrow evening (Wednesday 1 February) at Cairns State High School which will give local residents an opportunity to talk about the mining royalties-funded QET.

“The State Government wants to ensure that all Queenslanders have an opportunity to share their views on how we use the boom in our resources sector to transform the opportunities available to children,” Mr Pitt said.
 
“The QET would be established by taking a 50 per cent share of Liquefied Natural Gas royalties.

“This money could then be invested for the future education and training of Queenslanders.

“Over the long term, the QET would control billions of dollars to support education and training initiatives, giving Queensland’s young people a flying start into education and the workforce.”

Mr Pitt said two different operational models for the QET were proposed:

  • Individual Trust Accounts for Education – an individual endowment that would mean every child born on or after 1 July 2012 would have a nest egg valued between $7800 and $9500 when they turn 18; or
  • Dedicated Education Fund: an investment fund where the proceeds are reinvested by government in education and training initiatives beyond the basics throughout the schooling years and potentially beyond.

“We want feedback from Cairns residents about the QET and how it should operate,” Mr Pitt said.

“For example, if individual endowment accounts are established, what sort of eligibility criteria should apply.

“This is just one of the questions we will be asking community members at the forum.

“We want as many people as possible to benefit from Queensland’s resources boom.”

The Cairns community forum will be held at Cairns State High School, Crosswell Hall via Grafton Street, Cairns, and runs from 6.30pm to 8.00pm.

Community forums will also be held across the state in Townsville, Rockhampton, Brisbane and the Gold Coast.

To learn more and RSVP for a community forum visit the Queensland Government website at www.qld.gov.au/educationtrust

Responses to the QET proposal paper can also be made online at the Queensland Government website at www.getinvolved.qld.gov.au/gi/consultation/205/view.html; by emailing Education.Trust@premiers.qld.gov.au or by writing to: Education Trust, PO Box 15185, Brisbane 4002.