❓ Hon. Amber-Jade Sanderson asks about the actual and anticipated revenue and expenditure for the Elizabeth Quay project. The Minister provides figures on the budget, land sales revenue to date, and estimated expenditure for upcoming years.
AnsweredQoN 616Legislative Council
QuestionView source ↗
ELIZABETH QUAY — REVENUE AND EXPENDITURE
616. Hon AMBER-JADE SANDERSON to the
minister representing the Minister for Planning:
I refer to the expenditure on and
anticipated revenue from the Elizabeth Quay project.
(1) What is the actual and
anticipated revenue each year?
(2) What is the actual and
anticipated expenditure each year?
616. Hon AMBER-JADE SANDERSON to the
minister representing the Minister for Planning:
I refer to the expenditure on and
anticipated revenue from the Elizabeth Quay project.
(1) What is the actual and
anticipated revenue each year?
(2) What is the actual and
anticipated expenditure each year?
AnswerView source ↗
I thank the member for some notice
of the question.
(1) In February
2011, the state government approved the overall Elizabeth Quay budget of
approximately $440 million, noting that the net cost to government was
estimated to be $270 million—all figures excluding GST—after
land sales revenues of $170 million. To date, approximately $90 million has
been generated with the sale of lots 7, 8, 9 and 10. Given the strong
investment that Elizabeth Quay has attracted to date, the five remaining lots
to be sold—lots 2, 3, 4, 5 and 6—are anticipated to attract
strong interest. The timing of sales of the remaining lots is yet to be determined
and will be subject to market demand.
(2) The approved
state government budget papers reflect spending at Elizabeth Quay as follows:
$20 million in 2011–12; $70 million in 2012–13; $94.5 million
in 2013–14; $155.3 million estimated in 2014–15; $95.7 million
estimated in 2015–16; nil estimated in 2016–17 and 2017–18;
and $3.2 million estimated in 2018–19. That is a fantastic story.
of the question.
(1) In February
2011, the state government approved the overall Elizabeth Quay budget of
approximately $440 million, noting that the net cost to government was
estimated to be $270 million—all figures excluding GST—after
land sales revenues of $170 million. To date, approximately $90 million has
been generated with the sale of lots 7, 8, 9 and 10. Given the strong
investment that Elizabeth Quay has attracted to date, the five remaining lots
to be sold—lots 2, 3, 4, 5 and 6—are anticipated to attract
strong interest. The timing of sales of the remaining lots is yet to be determined
and will be subject to market demand.
(2) The approved
state government budget papers reflect spending at Elizabeth Quay as follows:
$20 million in 2011–12; $70 million in 2012–13; $94.5 million
in 2013–14; $155.3 million estimated in 2014–15; $95.7 million
estimated in 2015–16; nil estimated in 2016–17 and 2017–18;
and $3.2 million estimated in 2018–19. That is a fantastic story.
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