The latest National Accounts data released by the Australian Bureau of Statistics has revealed the gaping hole that is the Morrison Government’s lack of support for Queensland.
Deputy Premier and Treasurer Jackie Trad said the data showed it was only the strong investment of the Palaszczuk Government that was moving Queensland forward.
“This is the worst national growth we’ve seen since the Global Financial Crisis,” Ms Trad said.
“As has been noted by economists across the country, all but 0.1 percent of the 1.4 per cent GDP growth came from government investment.
“But in Queensland, investment by the Federal LNP Government shrank by $2 million in the year to June.
“It was only the $356 million increase in investment by the Palaszczuk Government and local councils that saw government investment in Queensland rise by 11.3 per cent over the year.
“There is no government in Australia that backs jobs and growth as fiercely than the Palaszczuk Labor Government.
“We know that the role of governments is to hire, invest and build to support economic growth.”
“Queensland’s growth performance reflects that determination.
Queensland’s quarterly growth in State Final Demand was the second fastest among mainland states.
Trend State Final Demand in Queensland rose by 0.3 per cent in the June quarter and by 0.9 per cent over the year – in line with the national result.
Queensland’s consumers again cast their vote of confidence in the Palaszczuk Government’s economic management, with Queensland’s household consumption growth the strongest in Australia, up by 2.1 per cent over the year.
Deputy Premier, Treasurer and Minister for Aboriginal and Torres Strait Islander Partnerships
The Honourable Jackie Trad