The headlines read:- ONE thing is certain: Labor left Queensland in a mess. And it is equally certain that Campbell Newman has been willing to take the hard decisions needed to turn the situation around. Labor leaves every state and the country in a mess they can’t help themselves because they simply can’t manage money. I still haven’t recovered enough to write about Labor’s fiscal announcement yesterday, we are paying off a massive debt left by Labor, thanks to them losing our AAA credit rating the interest is astronomical, the trend this past couple of years seems to be Labor are just going to deny there is debt, every Labor politician is just saying there is no debt and their blind followers believe them. I like this part:- Drawing on a sizeable dose of political courage, the Newman government made those choices. Together, the 2012-13 and 2013-14 budgets cut spending by nearly 5 per cent in real terms. And the state’s wages bill, which had been rising by almost 9 per cent a year under Anna Bligh, has been reduced by 5.8 per cent since 2011-12, even before correcting for inflation, as the public service shed 14,000 jobs. Those decisions put Queensland on a sustainable fiscal basis, achieving an $8bn budget turnaround in just four years and so allowing an expected return to surplus in 2015-16. That turnaround has far exceeded expectations, with the Newman government borrowing $11.6bn less than the 2012 Commission of Audit’s “business as usual” scenario had envisaged. Moreover, 85 per cent of the turnaround has come from lower spending, rather than through higher taxes and charges. And the gains have been made at a time when the phasing down of the resource boom has meant that economic growth has been weaker than the audit expected. theaustralian.au/opinion/columnists/having-returned-from-the-brink-queensland-finds-its-strength/story-fn7078da-1227187637444
Posted on: Fri, 16 Jan 2015 22:46:22 +0000
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