Jackie Trad to set up unlimited advance to fund COVID-19 issues

TREASURER Jackie Trad will set up a ‘Treasurer’s Advance’ that will enable her to draw funds from Government coffers to respond to issues emerging from the coronavirus pandemic.

TREASURER Jackie Trad will set up a $3.2 billion “Treasurer’s Advance” that will enable her to draw emergency funds from Government coffers to respond to emerging COVID-19 issues.

Creation of the surprise credit line has been included in emergency legislation set to pass the House today, which will enable the Government’s $4 billion economic relief package.

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The Appropriation (COVID-19) Bill 2020 will allow announced measures including payroll relief, of which $311 million has already been refunded, and relief for commercial landlords, of which more than $9 million has already been paid.

Queensland Deputy Premier and Treasurer Jackie Trad addresses a reduced chamber at state parliament on Wednesday. Picture: Dan Peled/AAP

Ms Trad said departments would be allocated funding from the Treasurer’s Advance, subject to strict criteria being met.

“There will be full transparency of money paid out of the Treasurer’s Advance, which will be reported with Treasury’s annual financial statements,” she said.

“These financial statements are audited by the Auditor-General and then included in Queensland Treasury’s annual report which is tabled in the Legislative Assembly.”

The Opposition will not oppose the Bill, which is expected to pass later today.