Since its March 2012 election, the LNP has cut annual expense growth from 9 per cent a year under premiers Peter Beattie and Anna Bligh over the decade to 2012 to 1.2 per cent. Despite the political cost, the Newman government has trimmed the public sector — which swelled by more than 30 per cent between 2004 and 2011 to 207,000 — to a more reasonable 195,000... The LNP’s plan to spend $9 billion updating and expanding the state’s infrastructure from the mooted $37bn proceeds from selling the state’s electricity distribution network will help bolster economic growth and jobs at a time when the resource sector is suffering. The global price of coal, the state’s biggest export, has plummeted more than 35 per cent. Meanwhile, the oil price has sunk to a five-year low, dragging down with it the revenue potential of the state’s massive liquefied natural gas reserves (whose price is linked to oil) for government and private sector alike. While Australia’s economy grew by 2.7 per cent over the year to September, Queensland’s shrank by 1.8 per cent. The state’s unemployment rate has risen from 5.5 per cent in March 2012 to almost 7 per cent, compared with 6.3 per cent across Australia. theaustralian.au/business/opinion/terrible-politics-in-queensland-but-theres-no-denying-thenbspeconomics/story-fnc2jivw-1227185104590
Posted on: Thu, 15 Jan 2015 10:08:13 +0000
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