Call for comment on the Queensland Education Trust
The Queensland Education Minister, Cameron Dick, has called for public comment on the State Government’s proposed multi-billion dollar Queensland Education Trust (QET) and how it should operate.
Mr Dick said six community forums would be held across the state from Wednesday, 1 February, to provide an opportunity for Queenslanders to talk about the mining royalties-funded QET.
“Ministers, including myself, will visit locations in Cairns, Townsville, Rockhampton, Brisbane and the Gold Coast to talk to community members about the QET,” Mr Dick said.
“The State Government wants to ensure 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.
“The QET would be established by taking a 50 per cent share of Liquefied Natural Gas (LNG) 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 Dick 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 people’s feedback about the QET and how it should operate,” Mr Dick said.
“For example, if individual endowment accounts are established, what eligibility criteria should apply?
“This is just one example of the questions we are asking Queenslanders,” Mr Dick said.
“I look forward to meeting local community members at the forums and hearing what they think.
“We want as many people as possible to benefit from Queensland’s resources boom.”
Details for the six community forums are:
• Wednesday, 1 February – Cairns – Cairns State High School
• Tuesday, 7 February – Townsville – Townsville State High School
• Wednesday, 8 February – Brisbane South – Mount Gravatt State High School
• Wednesday, 8 February – Gold Coast – Varsity College
• Thursday, 9 February – Brisbane North – Rainworth State School
• Thursday, 9 February – Rockhampton – Rockhampton State High School.
More information is at at www.qld.gov.au/educationtrust.
Consultation on the QET closes on Friday, 17 February.