Mother Nature not enough to stop QTC funding task reduction

Federal support for the repair of state-owned assets affected by the recent floods in Queensland have helped the state's treasury corporation reduce its expected borrowing requirement for the financial year 2010/11 to A$15 billion (US$15.2 billion). Queensland Treasury Corporation (QTC) announced the A$3 billion reduction in its annual funding task on February 2 following the state's mid-year budget update on January 28.