Damning figure that shows Budget is a bust

 

Queensland will be worth less in four years than it is now, leading to accusations Labor has "mortgaged Queensland's future to keep the lights on".

Shadow treasurer David Janetzki yesterday seized on Budget figures showing Queensland's net worth - which is a state's equity - will be $2 billion less in 2023-24 than in 2019-20.

And compared with 2020-21, the state's worth will grow by just $150 million.

 

Opposition Leader David Crisafulli this week. Picture: Dan Peled/NCA NewsWire
Opposition Leader David Crisafulli this week. Picture: Dan Peled/NCA NewsWire

 

Mr Janetzki said Queensland's net worth would stagnate because Labor had increased debt to cover its spending, rather than investing in state-building infrastructure, as NSW was doing.

"The New South Wales Budget has nearly double Queensland's infrastructure spending, and their net worth increases with these new assets by almost $30 billion," he told Parliament's Question Time.

But Mr Dick, who was yesterday at an ALP fundraising lunch to spruik his first Budget, turned the attack around and accused the LNP of presiding over budgets that saw net worth fall by $1 billion under then premier Campbell Newman.

Opposition Leader David Crisafulli, who will deliver his Budget reply speech today, said he was tired of Labor "harking back" to a government that had been thrown out years ago.

"You reckon I don't know a thing or two about the public mood at that time?" he said.

"I do and I learnt that, but I'm going to talk, starting from tomorrow, about the kind of style and the kind of tone of a future LNP government.

 

Mr Crisafulli watches Campbell Newman concede defeat in 2015.
Mr Crisafulli watches Campbell Newman concede defeat in 2015.

 

"It will be one that reforms, but with dignity and humility, and pace that takes people on a journey, and it will be generational because Queensland needs it."

He acknowledged the LNP did not have a great record in Queensland.

"We haven't won back-to-back elections since basically the mid-'90s, but this Budget shows why we owe it to the people of Queensland not just to win an election, but to govern for some time," he said.

Meanwhile, around half of the 60 coal ships being held up off of Chinese ports are thought to be from Queensland.

The number was released as Premier Annastacia Palaszczuk urged the Federal Government to "take a serious look" at the implications its deteriorating relationship with the superpower is having on the state's finances.

It came a day after Budget papers warned escalating tensions could take a devastating chunk out of Queensland's projected revenue during its COVID-19 recovery.

 

 

Queensland Opposition Leader David Crisafulli (right) and his deputy David Janetzki. Picture: Dan Peled/NCA NewsWire
Queensland Opposition Leader David Crisafulli (right) and his deputy David Janetzki. Picture: Dan Peled/NCA NewsWire

Originally published as Damning figure that shows Budget is a bust


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