Cost of living summit to be held in Torres Strait as Premier announces freight charges review

The Palaszczuk Government will hold a cost of living summit to hash out solutions to help Queenslanders, with the Premier saying action was needed “straight away”.

A cost of living summit will be held in Queensland’s Far North “within three months” the Premier has announced, as food and fuel prices soar in the Torres Strait at magnitudes far greater than in the southeast.

A review into the cost of freight in the Torres Strait and Cape York Peninsula regions, will also be undertaken by the state government, with leaders in the region pointing to a service monopoly as a “terrible break” on the local economy.

Following a Tuesday meeting of her cabinet on Thursday Island Premier Annastacia Palaszczuk confirmed key ministers would return “within three months” to hash out solutions for the range of “complex” issues raised during the trip.

She said the cost of living issue in particular required action “straight away”, noting the pressures felt in the Torres Strait — particularly the outer islands — were “three times” what Queenslanders in the South East were experiencing.

Premier Annastacia Palaszczuk visits Thursday Island. Picture: Supplied.

It is understood rising prices was an issue raised at a meeting of the Premier and mayors and councils of the region, at the northern most tip of Queensland, with freight charges a major issue.

At Thursday Island’s service station, unleaded petrol was $2.39 a litre and diesel was $2.59 a litre — significantly higher than RACQ’s “fair fuel prices” of $1.59 per litre for unleaded and $2.03 per litre of diesel in Brisbane’s south.

The cheapest loaf of white bread at the island’s main grocery store was priced at $4.49, 1kg of tomatoes cost $10, Cavendish bananas were $4.99 per kg, and a 250g stick of salted butter cost $5.

Sea Swift, a company wholly owned by the state government’s investment arm Queensland Investment Corporation, is the only freight provider in the region and recently announced it would be hiking charges by 14.5 per cent amid rising labour and maintenance pressures.

“That review will be comprehensive and I want an equal playing field, I want to make sure that there is no disadvantage when it comes to people who are living in some of the most remote parts of our state,” Ms Palaszczuk said.

Annastacia Palaszczuk on Thursday Island. Picture: Supplied

Torres Strait Regional Council Mayor, Yen Loban, said the current high costs of living was “one of the most devastating issues that is crippling” the region’s communities, businesses and economy.

“The shipping monopoly in our region not only marks the absence of a regulated competitive intrastate shipping industry but is also a terrible break on our economic development,” he said.

“It profoundly compounds the terrible cost of living experienced by our communities and unquestionably reduces prosperity and good health in our region.”

The terms of reference for the freight review are yet to be drafted, but the report is expected to be finalised by the time state ministers return to Thursday Island in December.

Ms Palaszczuk raised the possibility of a federal representative being present at the summit should Australian Prime Minister Anthony Albanese’s government be open to the idea, but she did not pursue the possibility of key federal ministers being involved directly.