Under the do-nothing Palaszczuk Labor Government, approval times for major projects have blown out. This means projects are taking longer to get started, causing uncertainty and adding costs to business and government.
The economic benefits from fast-tracking major projects include job generation and supply opportunities for local businesses.
But Labor is stuck in neutral and has scrapped the LNP’s “continuous improvement” measures to fast-track major project approvals.
In 2013, the Australian Productivity Commission calculated that a one-year delay in approving a major resource project would cost up to $2 billion. The cost of these delays aren’t just borne by the project proponent but the wider community in lost jobs, deferred tax revenue and royalties.
PricewaterhouseCoopers estimates the delay of the Adani Carmichael Mine will have cost Queenslanders $3.9 billion over the decade to 2023-24 – and 2,655 jobs.
In government, the LNP got Queensland moving by fast-tracking approvals of major projects. From 2012-14, the Coordinator-General issued 150 per cent more statutory approvals than under the previous Labor Government.
The LNP halved Environmental Impact Statement (EIS) timeframes, with the process taking less than two years. Labor’s EIS record is four to seven years. We ensured rigorous environmental checks while streamlining processes and removing red tape.
Under the LNP, the office of the Coordinator-General was productive, not a bottleneck – with more than 400 statutory decisions, almost double the total under Annastacia Palaszczuk.
These timely decisions provided more jobs and more opportunities for Queenslanders.
OUR REAL PLAN
A Tim Nicholls-led LNP Government will reintroduce continuous improvement measures to fast-track approvals for major projects.
The LNP will set the Coordinator-General a performance target to reduce the approval time for major projects.
Meanwhile, statutory decisions for other major projects will also be subject to continuous improvement targets.
The LNP will use statutory powers to fast-track private sector developments, whether it’s the Brisbane Entertainment and Education Precinct, a high-efficiency, low emission coal-fired power station in North Queensland or the Adani Carmichael Mine … because these projects mean more jobs for Queenslanders.