Business conditions deteriorate under ‘do nothing’ Treasurer

3 May 2016 12:00 AMJohn-Paul Langbroek

Yet another independent economic report has indicated business confidence and conditions are on the decline in Queensland under the do-nothing Palaszczuk Labor Government.

 

According to the NAB Monthly Business Survey business confidence fell by seven points in April, the equal-largest drop in Australia.

 

Shadow Treasurer John-Paul Langbroek said it came just a day after the CommSec State of the States Report showed Queensland had dropped to second last on economic growth.

 

“Treasurer Curtis Pitt is shameless in his attempts to spin these concerning figures,” he said.

 

“The NAB survey shows both business conditions and business confidence declined in Queensland last month, on both the available measures.

 

“In fact, Queensland was the only state to experience a decline in trend business confidence, while things improved across the rest of Australia.

 

“The survey also confirms that many businesses are struggling in the current economic climate, with business conditions in Queensland lower than the national average.”

 

Mr Langbroek said it was concerning the Treasurer ignored the warning signs detailed in a range of independent reports, including yesterday’s CommSec Report and the CCIQ Pulse Survey, and that more needed to be done to strengthen Queensland’s economy.

 

“Whether it’s business confidence, business conditions, economic growth or infrastructure investment – things have worsened dramatically since the election of the Palaszczuk Labor Government,” he said.

 

“This is a direct result of Labor still not having a plan for strengthening economic growth after 15 months in office.  Other states like New South Wales and Victoria are streaking ahead, while Queensland falls further behind.”

 

Fast Facts:

  • According to NAB, business conditions in Queensland are eight points behind the national average.

  • According to CommSec, Queensland now ranks worst in Australia on construction work.

  • The Labor Government is listed as the second largest factor negatively impacting business confidence, according to the CCIQ Pulse Survey of Business Conditions.

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