Labor locks in more debt and higher unemployment

Published:

The soaring debt, lower growth and higher unemployment forecast in today’s Budget update shows Labor has broken the Queensland economy, LNP Deputy Leader Tim Mander said.

“Every economic indicator is now heading in the wrong direction under Labor,” Mr Mander said.

“Jackie Trad’s plan will do nothing to help the 177,000 Queenslanders who will be out of work this Christmas or the thousands of businesses in danger of going broke.

“Labor’s raid on public servants’ superannuation is not a debt plan, it’s a sham.

“According to Jackie Trad’s own figures, it will take the ‘Future Fund’ 230 years to clear Labor’s massive debt.

“Labor’s own savings measure on consultant spending has also come up well short of the $1.7 billion they promised only six months ago.

“Labor’s not working.”

The Mid-Year Fiscal and Economic Review today showed:

Debt – Debt has blown out by over $1 billion to $91.8 billion in 2022-23.
 
Forecasted unemployment – Forecasted unemployment has increased by an average of 0.25% for an average of 6.25% this financial year.
 
Economic growth – Forecasted economic growth has been revised down by 0.5% to 2.5% this financial year
 
Royalties – Jackie Trad has made a $1.13 billion royalty blunder.
 
Interest payments – Queenslanders will be forced to pay almost $13 billion in interest on Labor’s ballooning debt over the next four years.
 
“Annastacia Palaszczuk won’t sack Jackie Trad for her integrity scandals, but the Premier should sack her Treasurer for destroying Queensland’s economy,” Mr Mander said.

“Queenslanders cannot afford this reckless, financially incompetent government to run this state for another four years.

“The LNP will end Labor’s wasteful spending and manage the Budget to provide better services, like health, education and transport.”

 
Elections Money & Finance Political Queensland Government
Social:   

LNP : Liberal National Party :
PO Box 940, Spring Hill QLD 4004, Queensland Wide
07 3844 0666
07 3844 0388
LNP :  Liberal National Party
Showing 10+ recent articles for this business
LNP plan to protect resource jobs from extremists 22 September 2020 | The LNP is listening to Queenslanders who want access to safe, secure and reliable jobs during these trying economic times. More information...
Statement from LNP Shadow Treasurer Tim Mander 22 September 2020 | “The Auditor-General report released today highlights the Palaszczuk Labor Government doesn’t have an economic plan to get Queensland working again. More information...
Report proof Labor is a digital disaster zone 23 September 2020 | A damning Auditor-General report released today serves as another reminder of Labor’s endless digital disasters that continue to rip-off Queensland taxpayers. More information...
Premier getting tested for COVID-19 17 September 2020 | Reports that Annastacia Palaszczuk has been tested for COVID-19 have raised concerns about the Premier’s recent regional travel schedule. More information...
Labor delivers more jobs pain for Queensland 17 September 2020 | Shocking unemployment figures, which show Queensland has the second worst unemployment rate in the nation, have been released by the Australian Bureau of Statistics today. More information...
LNP training plan to secure jobs for young Queenslanders 17 September 2020 | Boosting training opportunities that lead to jobs is a key part of the LNP’s plan to cut unemployment and ensure young people can get a job and get ahead on the Sunshine Coast. More information...
Queenslanders at risk of losing out in minor party power sham 09 September 2020 | More than 200,000 Queensland families are at risk of losing access to the solar bonus scheme, after a motion was supported by Katter’s Australia Party, One Nation and North Queensland First. More information...
Labor's smoke and mirrors can't hide rural fire cuts 09 September 2020 | The LNP has accused the Palaszczuk Labor Government of using smoke and mirrors to hide cuts to Queensland's rural fire brigades. More information...
Bushfire Royal commission interim report backs LNP's plan 02 September 2020 | The Australian Government's Royal Commission into National Natural Disaster Arrangements interim report has highlighted opportunities for improvements that line up with the LNP's 10-point Bushfire Mitigation... More information...
Labor must release secret mine safety report 02 September 2020 | The LNP is demanding the Palaszczuk Labor Government release its report on the Grosvenor mine explosion and safety in Queensland’s resources industry. More information...


comments powered by Disqus

All articles submitted by third parties or written by My Sunshine Coast come under our Disclaimer / Terms of Service