Newman Govt ‘weighs down’ Qld economy: Deloitte

Media Release

Shadow Treasurer Curtis Pitt said the respected Deloitte Access Economics Business Outlook has confirmed that the Queensland economy is still being ‘weighed down’ by the Newman Government’s program of cutting, slashing and selling.

Mr Pitt said the report, released today, was a sad indictment on the LNP’s management of the economy.

“The LNP promised Queensland economic progress, instead after almost two years in office they’re delivering lower growth and ABS figures have repeatedly confirmed they have not created a single additional full-time job for Queensland,” Mr Pitt said.

“This new Deloitte report is clear when it says that the Newman Government’s cuts, combined with cutbacks in the coal industry, were a ‘major negative for the State’s growth last financial year’."

“According to Deloitte it was only substantial gas development, especially in LNG, that allowed for growth to continue accelerating last financial year."

“These are projects initiated by the previous Government, not the LNP. So far the only major project the LNP can lay claim to is its indulgent new Executive Building in the Brisbane CBD."

“The Auditor-General has already shown the Executive Building and the LNP’s asset sale of seven office blocks to justify it will cost Queenslanders $2.6 billion over 10-15 years at the end of which taxpayers will not even own the building."

“Treasurer Tim Nicholls and the LNP have delivered lower economic growth, higher unemployment, and increased pressure on families through major electricity price increases, insurance tax grabs and new and increased fire levies."

“Despite saying they had concrete plans that would cut the cost of living, household bills are higher after two years of the LNP Government."

“The Newman Government’s failure on job creation is significant in that context because you can’t fight the cost of living if you don’t have a job."

“When Labor left office, growth was at 4% and unemployment at 5.5%. Today, under the LNP, growth is around 3% and unemployment near 6% despite the Premier promising to have it heading to 4%."

“The facts don’t lie. The LNP promised Queenslanders economic nirvana when in Opposition, but haven’t come close to delivering in Government.”