Premier Annastacia Palaszczuk has confirmed close to $6.4 million will be provided to the Gladstone Regional Council as part of commitment to divert to the city 50% of dividends and tax-equivalent payments paid by the Gladstone Area Water Board.
“Last year as part of the 2016 State Budget we promised to return to the Council half of the dividends paid to the State Government by the GAWB,” Ms Palaszczuk said.
“Queensland Treasury estimates the amount to be remitted to Gladstone Regional Council in the current 2016-17 financial year will be close to $6.4 million.
“I acknowledge the representations on this issue made by the Member for Gladstone Glenn Butcher and Mayor of Gladstone Matt Burnett.
“Both put forward a solid case for the Council to retain part of the dividends that would otherwise go to the state government.
Ms Palaszczuk said Treasurer Curtis Pitt and Water Minister Mark Bailey had facilitated the new arrangement following the State Budget.
The Premier said the GAWB usually paid its dividends and tax-equivalent payments to the state government half way through each financial year, so the Gladstone Regional Council could expect its first payment this month.