Bligh plans for liquefied gas royalties to fund Queensland education

HALF the royalties from Queensland's new liquefied natural gas industry will be re-invested to educate the state's children.

HALF the royalties reaped from Queensland's new liquefied natural gas industry will be re-invested in a trust fund to educate the state's children, under a plan unveiled by Premier Anna Bligh this morning.

Releasing a discussion paper for a proposed Queensland Education Trust, Ms Bligh suggested the trust could be used to provide an education nest-egg for children born from June next year.

"Modelling indicates that the golden generation's first members could receive between $7800 and $9500 when they turn 18 when they can use the money towards education or training costs," she said.

Under a second option the trust would invest in a future fund for scholarships for disadvantaged students or money to support international exchange programs.

The LNG industry which involves converting coal seam gas to liquefied gas at Gladstone and shipping it to booming international economies is projected to have a 30-year life, contributing state royalties of $1.8 billion in the first ten years alone.

"We are on the cusp of a bright future, bringing massive prosperity in the coming decade. We can use that prosperity to create a golden era that can last for a hundred years and that is our vision for Queensland."

Ms Bligh released the paper at West End State School, in her south Brisbane electorate, and called for submissions from educators on how the trust could best be utilised.