Strong endorsement for Queensland budget

The Palaszczuk Government’s jobs-focused budget has received strong endorsement from industry, economists and ratings agencies for maintaining a healthy surplus, investing in infrastructure and “transformative” payroll tax relief.

Ratings agency Moody’s said it considered debt to be manageable, and Standard & Poor’s said:

“Queensland’s wealthy economy, strong financial management, and exceptional liquidity continue to underpin our rating on the Australian state.”

Deloitte Access Economics said:

“… the Budget ticks a number of boxes – budget surpluses, infrastructure spending, remaining a low tax state, and increased spending on social portfolios.”

Deloitte partner Dr Pradeep Philip pointed to the employment benefits of the increased threshold for payroll tax:

“The $885 million payroll tax initiative is something that business should welcome, there is an increase in the threshold for businesses around Queensland and that is good for jobs.”

Dan Petrie from the Chamber of Commerce and Industry Queensland (CCIQ) said:

“This will be transformative for a number of small businesses within the state.”

Economist Nick Behrens said:

“This budget indicates that Queensland’s economy is performing well. The surplus is very good news for Queenslanders.”

The AMA gave the budget a strong B for its record $19.2 billion investment in health, with Professor Chris Perry saying:

“We like the fact there are 700 new hospital beds being built around Queensland for the next 4-5years. That’s another Royal Brisbane Hospital being built in a short period of time.”

The RACQ’s Rebecca Michael welcomed the budget’s transport infrastructure funding, particularly in regional Queensland:

“From Brisbane right up to Cape York on those key corridors, the Bruce Highway, the Pacific Motorway, the Cape York package also the Mackay Ring Road, the Cairns Ring Road, the Cairns Southern Access Road – all key projects Queensland needs.”

Master Builders deputy chief executive Paul Bidwell said commercial builders would be happy with the extra spending:

“We strongly support the idea of borrowing to build.”

Local Government Association of Queensland chief executive Greg Hallam pointed to the budget’s commitments to help regional communities maintain jobs:

“This is a solid Budget that will go some way to ensuring regional communities in Queensland continue to grow.”

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