Qld kids to benefit from LNG funds sooner

Queensland students will start receiving $4000 scholarships funded by the burgeoning liquefied natural gas industry in three years’ time, 15 years earlier than originally pitched.

Premier Anna Bligh announced on Monday that year 12 students graduating in 2015 would be the first to get the money, to be spent on tertiary education or training.

The Mines to Minds plan was originally set to start in 2030 but the government had received overwhelming feedback, from 3000 submissions, that Queenslanders wanted it earlier.

“We’ve listened and that’s what we have delivered,” Ms Bligh told reporters in Rockhampton.

“We’ve got to look beyond the resources boom, we’ve got to use it now to create the economy that comes next and the best way to put that is into our children.”

To make the earlier payments possible, the scholarships have been cut from the original $7000.

The second part of Labor’s Mines to Minds scheme would establish Today Grants, which will spend up to $970 million over the next decade on schools and skills.

Around $10 million will be spent on the grants this financial year, ramping up to $60 million by 2020.

As gas royalties will start flowing only in 2015, the first three years of funding for the grants will come from GST payments.

A Labor government would legislate for the plan in its first 100 days.

The premier announced Mines to Minds last year and asked for feedback on whether the fund should just be used solely for scholarships or the grants.

Of the submissions received, more than 60 per cent wanted the individual accounts and 24 per cent wanted a hybrid with the grant scheme.

You can skip to the end and leave a response. Pinging is currently not allowed.

Leave a Reply

Powered by WordPress | Designed by: Premium WordPress Themes | Thanks to Themes Gallery, Bromoney and Wordpress Themes