16 December, 2011

Mines to mines

Perhaps if we spend a shit load of money on Education and/or Health, no one will notice the guilt offset. The following story came from the Premier, via the Member for Brisbane - Grace Grace.

Premier Anna Bligh has launched a plan to use the State’s resources to fuel the education of the next generation of Queenslanders.

The Premier released From Mines to Minds: A proposal to establish a Queensland Education Trust, at West End State School.

The paper proposes the establishment of a multi-billion dollar Queensland Education Trust using 50% of future LNG royalties – projected at more than $1.8 billion in the next 10 years alone. “We want to take the wealth from the earth and use it to train the minds of our children,” said the Premier.

“We can harness the energy of the decade of prosperity we see before us to create a golden generation that will secure Queensland’s bright future for a century and more.” The Government’s proposed trust could be invested in different ways including;

• Individual Trust Accounts for Education – an individual endowment that would mean every newborn child would have a nest egg valued between $7,800 and $9,500 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.

The Premier said under the Trust account model every Queensland child born on or after July 1, 2012 would receive a savings endowment at birth that could be accessed at age 18. Under the second option the QET would invest up to 50% of LNG royalties as an education ‘future fund’. Under this model the QET would set aside funds for specific initiatives such as;

• TAFE and university scholarships for rural, regional and disadvantaged students
• International exchange programs
• Language program The QET can be the tool we use to build a bright future that will make Queensland the best place in the world to live, raise a family and to fulfil your potential.

“In Queensland we are already on the cusp of enormous prosperity with a resources boom unlike anything we’ve ever seen before. “The question now is how we use this prosperity.” The Queensland Government wants to hear from Queensland communities. We want your feedback on the QET by February 17, 2012. You can have your say by writing to us at: Education Trust, PO Box 15185, Brisbane 4000 or email:

Feedback and reading of the proposal - From Mines to Minds can be found online at:
The Premier of Queensland


  1. If the gold mines is not there then it could be a better option and will help to get the best solution for you and it is a great way of investment also

  2. QLD Govt are attempting to gain social licence by committing 50% of CSG/LNG profits to the Queensland Education Trust Fund. Please make comment by Friday 17 February 2012