Trad, Mander go head to head over state of economy

THE latest Suncorp/Chamber of Commerce and Industry quarterly "pulse" survey presents some shocking results as small and medium businesses across the state vented their frustrations.

It suggests business confidence is at its lowest since the GFC. Treasurer Jackie Trad and Shadow Treasurer Tim Mander respond.

 

Queensland Treasurer Jackie Trad. Picture: Annette Dew
Queensland Treasurer Jackie Trad. Picture: Annette Dew

 

JACKIE TRAD

WHEN it comes to the economy, confidence is king. The Palaszczuk Government knows this and understands this. That's why since we were first elected, our key priority has been to create more jobs by supporting traditional industries, attracting new industries and building the infrastructure our growing state needs, which all contribute to increasing economic activity and growth.

And the results speak volumes. There are 226,000 more jobs in an economy worth $347.6 billion, $35.6 billion more than it was in 2015; new industries in mining, renewables, defence manufacturing, aviation, hydrogen and bio energy; and, decade high population growth, with southerners heading north for jobs, affordable housing and a great lifestyle.

In challenging economic circumstances across the country, Queensland's economy continues to outperform the rest of Australia on the most reliable data available.

The Queensland State Accounts for the June quarter show Gross State Product rose 0.8 per cent for the quarter and 2.2 per cent for the year on a trend basis.

Compare that to grow of 0.3 per cent for the rest of Australia for the quarter, and 1.3 per cent for the year.

Similarly, ABS retail data for September shows Queensland outstripping the rest of the nation, with a rise of 1.6 per cent over the year compared to a fall of -0.2 per cent nationally, reflecting much stronger consumer sentiment in Queensland than anywhere else in the country.

The growth in Gross State Product is being driven by both household consumption and public final demand, reflecting again the importance of governments delivering and accelerating major infrastructure projects.

The growth in government investment is being driven entirely by the Palaszczuk Government and local councils - investment from those two levels of government rose by $356 million, while investment by the Federal LNP government fell by $2 million over the year.

The State Accounts also reflect the sentiment of the latest CCIQ Pulse Survey for the September Quarter - that confidence among consumers is not shared by businesses.

Private investment is down in Queensland and across the country.

The Palaszczuk Government clearly recognises the need to stimulate private investment and jobs growth, which is why we announced our $885 million package of payroll tax cuts to help businesses.

Together with our Affordable Energy Plan which has seen retail electricity prices for businesses and households fall more in Queensland than anywhere else in Australia, that should be resulting in cost savings for businesses.

Queensland's record exports of $87.6 billion for the year to September are now greater than New South Wales, Victoria and Tasmania combined.

But governments must do more. That's why we again call on the Morrison Government to accelerate funding for major infrastructure projects, to partner with us to further stimulate the economy, particularly in regional communities.

Every economic expert and analyst, every farmer, wage earner and small business owner, knows that more needs to be done. The question is, does the Morrison Coalition Government hear this message and do they even care?

 

 

Shadow Treasurer Tim Mander. Picture: Zak Simmonds
Shadow Treasurer Tim Mander. Picture: Zak Simmonds

 

TIM MANDER

QUEENSLAND business people have delivered a devastating verdict on Annastacia Palaszczuk.

The CCIQ Pulse survey revealed that business conditions in Queensland were even worse than in the GFC.

Confidence in Queensland's economic future has also collapsed.

But these damning results shouldn't be a surprise.

The Palaszczuk Labor Government has already given Queensland the highest unemployment rate in the nation, with almost 180,000 people now looking for a job.

Labor has also delivered the highest number of bankruptcies in Australia. Our construction sector, which employs almost a quarter of a million Queenslanders, is in recession.

No amount of spin from Annastacia Palaszczuk and Jackie Trad can hide the truth.

The Queensland economy is in serious trouble - and Labor is responsible.

Queensland hasn't been hit by a new global financial crisis.

This is Annastacia Palaszczuk's economic crisis.

It has been caused by her job-destroying agenda.

New South Wales and Victoria have robust economies, major infrastructure investment and low unemployment.

What a contrast with Queensland, where Labor has spent five years pushing small and medium-sized businesses to the brink.

Treasurer Jackie Trad has smashed Queenslanders with nine new or increased taxes, ripping $3.5 billion out of the economy. Labor also slashed $9 billion from the infrastructure budget and is refusing to fund important projects, the exception being Jackie Trad's South Brisbane electorate.

Labor has blocked applications for resource projects like the Carmichael mine and Acland Stage 3, despite the jobs crisis in the regions.

Labor has no idea how many jobs it has destroyed by raising taxes, cutting infrastructure and blocking projects. Because Labor doesn't understand the economy. Most of its leadership have never had a job outside politics or the unions.

Deb Frecklington's LNP team is made up of real people and we've used our real-world experience to produce a dynamic plan for Queensland.

The key to the LNP's economic plan will be a no-new-tax guarantee to ease the pressure on business. We'll also deliver infrastructure projects to create jobs and grow the economy.

The LNP will build a Second M1 between the Gold Coast and Brisbane and we'll also duplicate the Sunshine Coast Rail Line.

The LNP will end Annastacia Palaszczuk's fake fights with Canberra and instead work with the Federal Government on a 10-year program to build a better Bruce Highway.

In regional Queensland, the LNP will back five new dam projects between Rockhampton and the Tablelands.

The biggest of these will be the New Bradfield Scheme - a vast hydro-electric and irrigation scheme that will create tens of thousands of jobs, give farmers precious water and generate enough clean energy for 800,000 homes.

The New Bradfield Scheme is ambitious, but Queenslanders are crying out for a bold and positive plan.

They've had enough of Labor's high taxes and high unemployment.

They want a better future for themselves and their kids.

It's time to get Queensland working again and only an LNP government can do it.