Qld Treasurer of the Blue team has estimated that the budget deficet in the state of Qld will blow out to $7billion dollars in 13/14 Figures given out on MSM indicate that revenue in QLD for 12/13 that originally was budgeted at $46.5, was revised to $42.2.billion and again to $41.6.. Now the red team budget in 11/12 was for $3.3, then revised to $4.2billion and then $5.2 billion. IN THE RED next the blue team budget in 12/13 was to be $3.8 billion and then it came in at $4.6. IN THE RED Now the blue team comes up with $7billion IN THE RED for 13/14. Expenditure is not the problem in QLD. It is Income..What state government either RED or BLUE can have a shortfall in income of $5 billion and still provide the services that the people crave. Qld now joins other Australian states in the recession we have to have.. Lets hope it doesn't turn in something start with D. Australian states signing up for Gonski and the NDIS will rue the day IMO..Now is not the time to be budgeting big expenditure items.. Lets hope we don't have anymore floods or cyclones this year or early next year. Regards Errol 43
WOW! I was so impressed by campbell newman when he came to power, I though that his attitude would stop QLD ending up like the basket case that is NSW. I hope that his ministry can make the hard choices to make sure QLD stays as awesome as it was when I immigrated there
Latest Qld News...Power prices set to surge...More public Servants to be sacked? If revenues dive it doesn't make a scrap of difference if it is the red or blue team especially when the state is hit by natural disaster which has happened in Qld twice. Once when the red team was batting and once when the blue team is batting. Seems like all Australian governments are falling into the trap that ensnared Europe..Spend money on social services at the expense of infrastructure. Bob Kattter who was a cabinet minister in the old Joe government, recently remarked that there is nothing wrong in states going in to debt to fund infrastructure debt as long as it provided an income stream to pay back the debt in future years..He went on to point out that railway lines in CQ was built and that the government was recovering over $20 a tonnne in transport costs. Come on Campbell, the buck stops with you, Lets see how smart you are in the SMART STATE. Maybe he should borrow the money from the QIC. Regards Errol 43
Australia is slowly but surely starting to feel the pinch that Europe, parts of asia and the US has been feeling for years. The slowing asian countries growth causing commodity prices in ore and coal to fall further. Expect further cuts from state government spending, higher state taxes and utility costs, more debt buying even as state government bonds rise in price and lower revenues falling even further. The RBA will continue to cut interest rates until it catches up to the Fed, ECB, BOE and BOJ or until inflation kicks in and they'll quickly go in the opposite direction. It's a beautiful thing
