Statement from Treasurer Andrew Fraser

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Treasurer and Minister for Employment and Economic Development
The Honourable Andrew Fraser
19/05/2010

Statement from Treasurer Andrew Fraser

The Queensland Government notes the actions by Asciano to lodge an application seeking a competition declaration under National Competition Council principles.

The Queensland Government is satisfied that there is already a strong and robust rail access regime administered by the Queensland Competition Authority that has allowed competition to flourish on the Queensland coal network.

Under that regime, Asciano has won a 17% share of the coal haulage market in Queensland and we note that it has informed the market that it has set a 30% growth target by 2015.

The Government has already signalled its strong confidence in QCA rail regime in an announcement last month that it will also be seeking certification of that regime from the National Competition Council.

We will also be announcing a range of regulatory enhancements to the QCA's rail access regime that will be the subject of legislation to be introduced in the post-Budget sitting.

The QCA rail access regime is the most comprehensive rail regime in Australia with extensive experience regulating Queensland's coal rail network over a period of 10 years. The Queensland Government's proposed changes will further strengthen that regime.

The QCA is also currently considering a new four year access undertaking for the QR coal network that is expected to be finalised mid-year.

We do not expect these actions will have an impact on the timetable for the QR National IPO scheduled for the 4th quarter this year.


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