It’s good to see the savings are already flowing on household power bills with the Federal Coalition’s abolition of the carbon tax. In Queensland, further savings are expected with the State Government’s newly announced plan to permanently remove the cost of the Solar Bonus Scheme from electricity prices.
The $3.4 billion Strong Choices Cost of Living Fund will be used to ease cost of living pressures for Queenslanders by subsidizing the cost of solar feed-in tariffs.
There will be no change for existing solar power customers who will continue to receive their contracted 44-cent feed-in tariff, but these costs would be paid out of the Strong Choices Cost of Living Fund rather than shared between all electricity users.
If the State Government is given a mandate to act on the Strong Choices lease plan at the next election, these funds will be available to significantly put downward pressure on electricity costs by removing this cost burden.
Use the Strong Choices calculator to see how much you could save under the new Strong Choices Plan at http://www.strongchoices.qld.gov.au/calculator.
The final Strong Choices plan provides details about how we aim to reduce the State’s $80 billion debt and free up funds for key infrastructure and cost-of-living relief. The plan shows that leasing some assets will generate the funds needed to bring the State’s debt back under control, while ensuring Queenslanders always retain ownership.
The plan, if a mandate is given by Queenslanders, is expected to yield $37 billion and would be allocated as follows:
- $25 billion to reduce State debt from $80 billion to a manageable $55 billion, with annual interest payments reduced from $4 billion to $2.7 billion – a saving of $1.3 billion.
- $8.6 billion to establish the Strong Choices Future Investment Program, which will create 11 separate funds, each of which is dedicated to supporting infrastructure considered vital to economic growth, jobs and vibrancy of regional communities.
- $3.4 billion for the Strong Choices Electricity Price Relief Fund to relieve cost-of-living pressures.
To view the plan visit www.StrongChoices.qld.gov.au.