Mines to Minds: Creating a golden generation
Premier Anna Bligh has launched a plan, From Mines to Minds: A proposal to establish a Queensland Education Trust, to use the State’s resources to fuel the education of the next generation of Queenslanders. The paper proposes the establishment of a multi-billion dollar Queensland Education Trust using 50% of future LNG royalties – projected at more than $1.8 billion in the next 10 years alone.
“We want to take the wealth from the earth and use it to train the minds of our children,” said the Premier.
“We can harness the energy of the decade of prosperity we see before us to create a golden generation that will secure Queensland’s bright future for a century and more.”
The Government’s proposed trust could be invested in different ways including;
- Individual Trust Accounts for Education – an individual endowment that would mean every newborn child would have a nest egg valued between $7800 and $9500 when they turn 18 or;
- Dedicated Education Fund: an investment fund where the proceeds are reinvested by Government in education and training initiatives beyond the basics throughout the schooling years and potentially beyond.
The Premier said under the Trust account model every Queensland child born on or after July 1, 2012 would receive a savings endowment at birth that could be accessed at age 18.
Under the second option the QET would invest up to 50% of LNG royalties as an education ‘future fund’. Under this model the QET would set aside funds for specific initiatives such as;
- TAFE and university scholarships for rural, regional and disadvantaged students
- International exchange programs
- Language programs
The QET can be the tool we use to build a bright future that will make Queensland the best place in the world to live, raise a family and to fulfil your potential.
“In Queensland we are already on the cusp of enormous prosperity with a resources boom unlike anything we’ve ever seen before.
