GOVERNMENT SPENDING POLICY – QUEENSLAND

Coal boom to fund Qld’s green power shift

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Original article by Mark Ludlow
The Australian Financial Review – Page: 1 & 8 : 14-Jun-23

A $1.5bn cost-of-living package is the centrepiece of the Queensland government’s 2023 budget. It includes a $550 energy rebate for all households in the state, plus a rebate of up to $1,000 for vulnerable households. Treasurer Cameron Dick does not expect the package to boost inflation, although Gene Tunny of Adept Economics notes that other states are also ramping up their expenditure, which will be taken into account by the Reserve Bank when adjusting monetary policy. Dick’s fourth budget has also allocated $19bn to pumped hydro, wind, solar and battery projects that will be owned by the government. This spending will see the budget return to deficit in 2023-24, following a record surplus of $12bn for 2022-23. A $10bn increase in coal royalties is the major contributor to the surplus.

CORPORATES
QUEENSLAND. TREASURY

Surplus built on coal and more tax

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Original article by Mark Ludlow
The Australian Financial Review – Page: 4 : 13-Jun-18

The Queensland Government’s June 2018 Budget includes a surplus of $A1.5bn for 2017-18 and just $A148m in 2018-19. The government has also committed to spending $A11.6bn on infrastructure projects in 2018-19 and $A45.8bn over four years. This will contribute to a blowout in the state’s debt to $A83.1bn over the next four years. Revenue from coal royalties have topped $A3.77bn in 2017-18, after coal prices were higher than expected. The government will also raise an additional $A1.8bn via five new taxes over the next four years.

CORPORATES
QUEENSLAND. TREASURY, AUSTRALIAN LABOR PARTY, ADANI MINING PTY LTD, MOODY’S INVESTORS SERVICE INCORPORATED, STANDARD AND POOR’S FINANCIAL SERVICES LLC, LIBERAL-NATIONAL PARTY OF QUEENSLAND