Responding to the global recession
The worst global recession in 70 years has reduced Queensland’s income by $15 billion over four years, with income from:
- GST down by $4.6 billion
- royalties down by $2.6 billion
- taxes such as stamp duty down by $7.8 billion.
Prioritising spending
Anyone who has a cut to their income needs to take action – whether it's a family, business or government. That's why the Queensland Government is prioritising spending on essential services and infrastructure – new roads, schools and hospitals – which benefit all Queenslanders.
The Government had to make a choice
The choices were to cut the building program, placing 127,000 jobs and our economic recovery at risk, or sell five established commercial businesses, which have a bright future in private ownership.
What other options were considered?
The first option was to cut infrastructure spending, that is, to cut the $18 billion building program. That would have risked 127,000 jobs, would have resulted in fewer roads, fewer schools, less public transport and fewer hospitals for Queensland. It would also have placed our economic recovery at risk.
Other options included raising State taxes or cutting services. These options would have placed undue pressure on Queensland families trying to get through these difficult economic times.
Other languages