PHILIP NOBLE: CHIEF EXECUTIVE, QUEENSLAND TREASURY CORPORATION

Queensland is poised at the start of its next transformational chapter with the charge towards being a world leader in renewable energy, following the announcement of the Queensland Energy and Jobs Plan, and our run to the Brisbane 2032 Olympic and Paralympic Games.

Both will bring a tremendous amount of economic activity and legacy infrastructure for our State that will create a long-lasting impact on Queensland for generations. Investment will come from all levels of government and the private sector.

We know that Government borrowings will be required, and the State’s balance sheet is in a strong position to enable headroom for future borrowings, however the nature and appeal of the opportunities available will also bring private sector capital into play.

As the central financing authority for the Queensland Government, Queensland Treasury Corporation (QTC) is a highly regarded sub-sovereign issuer—with an established funding program and facilities in a variety of markets and currencies underpinned by Queensland’s AA+/Aa1/AA+ credit rating1.

The team at QTC is committed to attracting a broad investor base through a diverse range of financial securities. Key to these investor discussions are the critical levers that underpin the strength across the State’s balance sheet, including:

• The Queensland Government’s strong health and economic response to COVID-19 has minimised the impact on public finances in comparison
  to other jurisdictions and we continue to demonstrate our strong institutional framework and financial management.
• Queensland drives almost 20 percent of Australia’s economic activity and has a track record of strong growth, with a diverse economy worth more than $360 billion—where no single sector makes up more than 10 per cent of the State’s output.
• Queensland is the only State to fully fund its pension obligations and maintains a high-level of financial assets (including government ownership of all critical infrastructure and significant property and land holdings).
• Queensland has abundant natural capital, including ample renewable energy sources and reserves of new economy minerals that will be vital for the global energy transformation.
• Queensland continues to demonstrate world-class innovation and is recognised by the World Bank as a Global Innovation Hotspot through its leading R&D facilities, university hubs, and knowledge precincts.

Queensland’s investment prospects are incredibly compelling, and the focus will shift to harnessing private capital investment and leveraging the vast opportunities that Queensland can present to many industries. Collaboration with the private sector can come in many forms and the challenge ahead is to find the balance that enables the best long-term economic outcomes for Queensland and our future industries.