Pressure on Treasurer Pitt as Queensland investment tumbles

27 Nov 2015 12:00 AMJohn-Paul Langbroek

Pressure is mounting on Treasurer Curtis Pitt, with the latest figures showing business investment in Queensland stalling under his leadership.

Shadow Treasurer John-Paul Langbroek said Australian Bureau of Statistics figures showed total seasonally adjusted business investment in Queensland dropping by 21.1 per cent since the March quarter.

 

“This was the worst result of any state or territory and far above the national average,” Mr Langbroek said.

 

“Expenditure on buildings and structures in Queensland has dropped by 28 per cent in just two quarters.

 

“This comes on top of the latest state accounts statistics showing Queensland at the bottom of the pack on economic growth.

 

“These figures again show Queensland is suffering due to this government’s infrastructure freeze and ‘review rather than do’ mantra. Labor is holding Queensland back.

 

“What’s most concerning is Mr Pitt refuses to even acknowledge the figures, or the crisis of confidence here in Queensland.”

 

Mr Langbroek said he was not surprised Mr Pitt was coming under increasing pressure for failing to outline an economic vision for Queensland.

 

“Mr Pitt’s inexperience has been on display all year – from his irresponsible and incorrect comments about Queensland being in a recession, to his raid on public servants’ superannuation and long service leave entitlements,” he said.

 

“Queenslanders deserve better than an inactive, ineffectual Treasurer who seems to be making it up as he goes.

 

“Only the LNP has a Real Economic Plan to take Queensland forward and unleash our great state’s true potential.”

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