Queensland slides again in CommSec report

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A new survey has found that Queensland had the second-worst performing economy of any state in the nation before the coronavirus began hurting business and jobs.

The latest CommSec State of the States report reveals that Queensland’s economy was overtaken by South Australia in the first quarter of the year and is now only one place ahead of WA.

LNP Deputy Leader and Shadow Treasurer Tim Mander said the dire result was further evidence of the Palaszczuk Labor Government’s economic failure.

“The CommSec report compares how states are doing now with how they have performed over the previous decade,” Mr Mander said.

“This report shows Queensland’s economic performance has gone off a cliff under Labor – and well before the present coronavirus crisis.

“Queensland used to be an economic powerhouse, but thanks to Labor we’re flatlining.

“The Palaszczuk Labor Government’s nine new taxes and cuts to infrastructure have weakened our economy, leaving us badly exposed to the economic hit of coronavirus.”

According to the April 2020 CommSec report:

  • Queensland had the second-lowest growth of all states
  • Annual construction work was 7.7% below the decade average
  • Annual homebuilding was 21.9% below the decade average
  • Queensland had the second-lowest increase in wages in the December quarter

 
“The Palaszczuk Labor Government cannot run the economy and now they’re trying to hide their incompetence by cancelling this year’s Budget,” Mr Mander said.

“Queensland is the only state with a Treasurer too scared to have a Budget.

“Labor have no Budget and no plan.

“The LNP will create jobs by building the New Bradfield Scheme, new roads and dams, delivering cheaper electricity, cutting red-tape and guaranteeing no new taxes.

“It’s time get Queensland working again and only an LNP Government can do it.”

 
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