State Member for Nanango Deb Frecklington

June 15, 2012

Member for Nanango Deb Frecklington assured South Burnett residents this afternoon that the LNP’s election promise to spend $10 million on the D’Aguilar and Brisbane Valley Highways would go ahead, despite today’s release of the Independent Commission of Audit’s interim report.

“The report details the previous government’s lack of fiscal discipline and predicts State debt will hit $100 billion in 2018-19 unless urgent action is taken by the Newman Government,” Mrs Frecklington said.

“It also reveals the starting point for the 2012-13 Budget is a fiscal deficit of $9.5 billion, all due to Labor’s economic recklessness.”

Despite this, Mrs Frecklington said the LNP government was standing by the election commitments it made, including the highway upgrades and the “cost of living” Bill currently being debated in State Parliament.

This Bill would:

  • Reinstate the transfer duty home concession,
  • Increase the payroll tax exemption threshold for businesses from $1 million to $1.1 million,
  • Freeze the standard electricity tariff (Tariff 11),
  • Abolish Sustainability Declarations when selling houses; and
  • Introduce an Office of Best Practice Regulation to save unnecessary red tape.

“According to the interim report, interest payments on Labor’s debt will run at $3.5 billion in 2011-12 – or more than $39 million for each State electorate, including ours,” Mrs Frecklington said.

“That number is set to climb to $5.3 billion or 9 per cent of state revenue in 2015-16.

“This is money that could otherwise be invested in vital state infrastructure like roads, hospitals and schools and delivering frontline services for the people of Nanango Electorate. Instead the money will be spent paying off Labor’s massive debt.”

Mrs Frecklington said the report clearly showed Labor relied on unrealistic budget assumptions to mask the extent of the underlying structural problems.

“The opening paragraph of the report says it all – the Labor Government embarked on an unsustainable level of spending which has jeopardised Queensland’s financial position.

“Labor’s irresponsible economic policies are entirely responsible for Queensland moving from a position of considerable financial strength to a position of weakness in the last six years.”