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News from Parliament

During a recent session of Parliament the Independent Commission of Audit  was released, painting a very grim picture of our state’s finances.   The report has given an indication that the State debt will hit $100 billion in 2018-19 unless urgent action is taken by the Newman Government.  It also outlined that interest payments on the debt already accrued will run at $3.5 billion in 2011/2012.  The Newman Government now has the task of considering all cost saving recommendations in the lead up to the September state budget.  It is glaringly obvious that the financial situation Queensland is faced with is dire.  There is no mincing words on this one – there are some tough decisions that will now need to be made.  Key infrastructure may have to wait while we get the state back on track.  Rest assured, we have the tools we need to turn this around and we are optimistic that the future will once again be bright for this great state.

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