Report No. 8, 57th Parliament - Debt Reduction and Savings Bill 2021


The committee tabled its report on the Debt Reduction and Savings Bill 2021 on 14 May 2021. The Bill was passed with amendment on 27 May 2021.


View the transcript of the parliamentary debate on the Bill on 25 May 2021 (pages 1502-1510, 1516-1522 and 1533-1577); 26 May 2021 (pages 1605-1619, 1623-1656 and 1669-1678); 27 May 2021 (pages 1707-1725 and 1737-1763). Click on the movie icon within the transcript to view the debate.




Debt Reduction and Savings Bill 2021


Explanatory notes


Explanatory speech


Statement of compatibility with human rights


On 25 March 2021, the Debt Reduction and Savings Bill 2021 (the Bill) was introduced into the Parliament by the Hon Cameron Dick MP, Treasurer and Minister for Investment. The Bill was referred to the Economics and Governance Committee for its consideration and report by 14 May 2021.

Objectives of the Bill

According to the explanatory notes, the objectives of the Bill are to:

  • support the State’s contribution to the Queensland Future (Debt Retirement) Fund established under the Queensland Future Fund Act 2020 (by enabling the transfer of the operation of the Titles Registry to a newly formed company that will be contributed to a Queensland Investment Corporation managed trust within the Debt Retirement Fund)
  • introduce a fee unit model to streamline the annual process of indexing regulatory fees
  • abolish Building Queensland (BQ) and the BQ board; and integrate BQ’s staff, assets, records, resources and liabilities into the Department of State Development, Infrastructure, Local Government and Planning
  • change the governance structure of the National Injury Insurance Agency, Queensland (NIISQ) (including abolishing the board of the NIISQ Agency and appointing the Insurance Commissioner of the Motor Accident Insurance Commission as chief executive officer responsible for the management of the NIISQ Agency)
  • repeal the Public Safety Business Agency Act 2014 so that machinery of government changes may reintegrate the Public Safety Business Agency into public safety entities
  • abolish the Queensland Productivity Commission and integrate its functions into Queensland Treasury and the Queensland Competition Authority
  • mandate that legislation which requires or authorises print advertising or publication by government agencies shall be satisfied by digital/electronic advertising or publication, subject to appropriate exemptions
  • make technical amendments to the Medicines and Poisons Act 2019 to clarify head of power issues and improve the operation of proposed regulations (including introducing an offence requiring a compliant analysis certificate for the supply or use of a tattoo ink).


Submissions are now closed.  Submissions accepted by the committee can be accessed under the "View Submissions" tab.


Submissions closed:

Thursday 15 April 2021

Public briefing:

Monday 12 April 2021, 11.30am – 12.15pm - program - broadcast - transcript

Public hearing:

Tuesday 27 April 2021 - program - broadcast - transcript

Report due date:

14 May 2021 - report

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