A new industry report released today* has revealed funding to major Queensland projects will plummet from $6.1 billion in 2018/19 to $4.6 billion in 2019/20.
LNP Shadow Minister for Infrastructure Andrew Powell slammed the Palaszczuk Labor Government's economic mismanagement which is costing jobs and delaying desperately-needed infrastructure.
"Under Annastacia Palaszczuk's leadership the value of Queensland's major projects will dive by more than a fifth next year," Mr Powell said.
"Ripping $1.4 billion out of our economy will only make our state's job crisis worse and put more pressure on Queenslanders' cost of living.
"Projects in key sectors such as roads, telecommunications, electricity and mining will be slashed by 45 per cent next year.
"Labor is ruining Queensland's economy by shifting the goal posts for resource projects, cutting road funding and ramping up taxes on businesses.
"With our roads and hospitals at breaking point, we need more infrastructure investment not less.
"Annastacia Palaszczuk's priorities are all wrong and Queenslanders are being forced to pay the price.
"While NSW is celebrating record low unemployment, Queensland's unemployment is out of control and the situation is going from bad to worse.
"Our state needs an LNP Frecklington Government that will invest in projects that bust congestion, create jobs and deliver better services."
Mr Powell said no state assets would be sold or leased under an LNP Government.
"Only an LNP Government will be able to reverse the billions that have been cut from major projects under Labor," Mr Powell said.
Examples of delayed projects:
- Cairns Convention Centre expansion – Over two years delayed
- Second M1 – no plan
- Sunshine Coast rail duplication – short changed
- Cross River Rail project – 18 months delayed
- Lake Macdonald dam – Over two years delayed
- Nullinga Dam – delayed with no start date
- Raising the Burdekin Falls Dam – delayed with no start date
- Urannah Dam – delayed with no start date
*Report available from 9:00AM at https://qmca.com.au/2019-major-projects-pipeline-report/