Qld economy not all doom and gloom report 20150903 p5tisp.html – Breaking News & Latest Updates 2026
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Qld premier says budget will help woes

AAP

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Queensland Premier Annastacia Palaszczuk insists her budget will help the state get back on track after another round of disappointing economic figures.

Australian Bureau of Statistics figures released on Wednesday showed final demand for the state fell 0.8 per cent in the June quarter, rounding off a fiscal year of negative final demand growth in the state.

State final demand is the total value of goods and services that are sold within a state.

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Ms Palaszczuk promises her "measured and responsible" budget, including $35 billion for infrastructure over the next four years, will kick-start the economy.

"It's not going to happen overnight," she said.

But the opposition says the Queensland is falling further behind.

"There is no plan for this government to be able to re-ignite the construction industry in Queensland to create those particular jobs," Opposition Leader Lawrence Springborg said.

Deloitte Access Economics warns Queenslanders face further economic risks from sliding commodity prices, weak gas sector construction and high unemployment figures.

But Deloitte's report on the Queensland's economy, released on Thursday, said things weren't as bad as they seemed and forecasted improvements over the next five years.

As the resources boom tapers off, the state's biggest challenge would be to diversify, according to the report.

Deloitte said Queensland already had a competitive advantage in agriculture, international education, tourism, gas and wealth management and those sectors could drive future growth.

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For the Palaszczuk government, the report said, that would mean shaping policies to redirect investment into those sectors from other areas.

Ms Palaszczuk also called on Prime Minister Tony Abbott to help by giving Queensland its fair share of the federal infrastructure funding for projects in the state.

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