Queensland Deputy Premier and Treasurer Jackie Trad has
delivered her first budget. The centrepiece of the budget is a
$45.8 billion infrastructure program over the next four years. Ms
Trad argues that this level of investment is necessary now to meet
the needs of a growing population and to enable future economic
growth. Projects to benefit include Cross River Rail, upgrading the
M1 in southern Brisbane and on the Gold Coast, future proofing the
Bruce Highway, the Rookwood Weir on the Fitzroy River and rail
duplication on the Sunshine Coast.
Ms Trad is unapologetic about the fact that general government
sector debt will grow by $11 billion over the next four years to
$42 billion and total government debt, including Government Owned
Corporations borrowings, will hit $83 billion. She insists that
this level of debt is sustainable, with borrowings continuing to
track at 10% of Gross State Product (GSP) and the
debt interest expense will stay under 3% of revenue.
