Premier Confirms Gladstone Area Water Board To Receive Greater Dividends

Premier Confirms Gladstone Area Water Board To Receive Greater Dividends

Queensland Premier Annastacia Palaszczuk

$6.4 Million In Water Board Dividends Flow To Gladstone

Victor P Taffa

Premier Annastacia Palaszczuk has confirmed close to $6.4 Million will be provided to the Gladstone Regional Council as part of commitment to divert to the city 50% of dividends and tax-equivalent payments paid by the Gladstone Area Water Board (GAWB).

“Last year as part of the 2016 State Budget we promised to return to the Council half of the dividends paid to the State Government by the GAWB.” Premier Palaszczuk said.

“Queensland Treasury estimates the amount to be remitted to Gladstone Regional Council in the current 2016-17 financial year will be close to $6.4 Million.”

“This is first annual payment that will flow to the city with funds estimated to be more than $18 Million over four financial years.”

“I acknowledge the representations on this issue made by the Member for Gladstone Glenn Butcher and Mayor of Gladstone Matt Burnett.” Premier Palaszczuk said.

“Both put forward a solid case for the Council to retain part of the dividends that would otherwise go to the state government.

“It has taken my government to act on this issue, following the failure of the former government including then Treasurer Tim Nicholls, to respond to the Council’s request.” Premier Palaszczuk said.

Premier Palaszczuk said Treasurer Curtis Pitt and Water Minister Mark Bailey had facilitated the new arrangement following the State Budget.

Premier Palaszczuk said the GAWB usually paid its dividends and tax-equivalent payments to the state government half way through each financial year, so the Gladstone Regional Council could expect its first payment this month.