The budget further trashes the Sunshine State’s traditional reputation as a low debt, lower taxing, business-friendly jurisdiction as Labor tries to spend its way back into power.
is a politically shameless and fiscally irresponsible attempt by a Labor government staring at seemingly certain defeat at the October state election to spend its way back into power.
The $11.2 billion cash splash on cost-of-living handouts will turn this year’s small $564 million surplus into a $2.6 billion deficit in 2024-25. Treasurer Cameron Dick says it’s a “deliberate choice” to put the budget into deficit to help Queenslanders “keep their budgets in balance”.The freeze on all government fees and charges is just a vote-buying gimmick, like the six-month 50¢ bus and train fares and $1000 electricity bill rebate previously announced by Premier Steven Miles..
But rather than properly grapple with repairing the state’s balance sheet, the budget canvasses an anti-privatisation push to renationalise Queensland’s toll road network that was sold to Transurban in 2014. This would take on more public debt now to pay for new tunnel road projects in Brisbane by borrowing against the return of tolling revenue to state coffers in 2051. It is reverse-asset recycling when the whole idea of selling off mature public assets is to pay for new infrastructure without adding to debt.
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