Queensland’s economy slips further under Labor

27 Jan 2016 12:00 AMJohn-Paul Langbroek

Queensland continues to be held back by a ‘do-nothing’ Palaszczuk Labor Government, the latest CommSec State of the States Report confirmed today.

Shadow Treasurer John-Paul Langbroek said today’s report showed Queensland was part of a ‘third tier’ of economies and had fallen further behind on important indicators like economic growth, equipment investment and construction work.

 

“Queensland is not even in the middle of the pack, we’re grouped at the bottom alongside South Australia and Tasmania,” Mr Langbroek said.

 

“Labor has been in office for almost 12 months now and we still haven’t heard any plans for boosting economic growth or investing in vital infrastructure.

 

“Since the last quarterly report we’ve fallen from fifth to sixth on economic performance, and economic activity is 0.2 per cent lower over the last year.

 

“Construction work in Queensland has declined by 30.5 per cent in the last 12 months – the biggest annual decline in records going back more than 26 years.  We’re ranked worst of all states and territories on this measure.

 

“This is just the latest report to confirm infrastructure investment has stalled in Queensland since the Palaszczuk Government’s election, with Infrastructure Partnerships Australia saying the state faced a $50 billion infrastructure black hole.”

 

Mr Langbroek said it was essential the Palaszczuk Labor Government proactively addressed the economic issues highlighted by the independent CommSec report.

 

“It’s not good enough for the Premier and the Treasurer to put off everything off to a review to avoid making a decision,” he said.

 

“A plan and some vision is vital to giving businesses some much-needed confidence, and it’s clear only the LNP has a plan to unleash this state’s true potential.”

 

Mr Langbroek said the Commsec State of the States Report was a quarterly report that ranked each of the states and territories against each other on key economic indicators. 

 

The ranking is ascertained by comparing the indicators against the decade-average for that measure.

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