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And for @mariner4life
This part made me chuckle: "Mr Dick admitted the state had been hit hard by the coronavirus – with 138,000 jobs lost since the pandemic began – but claimed the state's hard borders had helped the economic recovery"
Qld plunges further into debt as closed border hits tourism
Mark Ludlow
Sep 7, 2020 – 11.57am
Queensland's budget has been smashed by the impacts of the coronavirus and the state's hard border stance, with total debt to top $102 billion this financial year.With the state's tourism sector in freefall as Queensland remains cut off from NSW and Victoria, taxation revenue has been rewritten down by $6.7 billion, with coal royalties expected to fall a further $1.5 billion this financial year.
Queensland is expected to record a $13 billion deficit this financial year, with an estimated $9 billion deficit for 2019-20.
The state's total debt will top $100 billion this financial year – almost $19 billion higher than forecast in the mid-year budget update in December which was delivered before COVID-19.
With the Palaszczuk government attempting to win a third term in office at the October 31 election, Mr Dick has announced a further $4 billion in borrowings for an election kitty to be used for further economic stimulus in the next term of office.
Mr Dick admitted the state had been hit hard by the coronavirus – with 138,000 jobs lost since the pandemic began – but claimed the state's hard borders had helped the economic recovery.
This is despite the state's multi-tourism industry being on life support after the loss of both international and interstate visitors.
"There is no sugar coating the impact this pandemic had had on the lives and livelihoods of so many Queenslanders. COVID has taken its toll," he said.
"The states that have fared best are those that have controlled their borders, allowing them to open up their economies inside those borders."
Queensland's unemployment rate is expected to jump to 8.5 per cent this financial year – one of the highest in the nation – while the economy shrank 0.25 per cent last financial year and is forecast to contract 0.25 per cent this financial year.
Coal exports fell by 4.9 per cent in 2019-20 and are expected to fall a further 1 per cent in 2020-21, driven by weaker international demand.
Spot prices have also fallen by 22 per cent for coking coal and 33 per cent for thermal coal. The end result is a $1.5 billion write-down for coal royalties this financial year.
In a bid to keep businesses afloat, Premier Annastacia Palaszczuk has announced a $250 million extension of its payroll tax relief scheme for small and medium-sized businesses with total wages of up to $6.5 million.
They now will not have to pay payroll tax for July and August. JobKeeper subsidies will also be exempt from payroll tax.
The policy will also allow businesses to pay off existing payroll tax deferred liabilities over the course of 2021 as well as extending rent relief for those renting state government premises.
In another controversial move, Mr Dick also announced a new $500 million Renewable Energy Fund to provide more subsidies for clean energy schemes to help the Labor government reach its 50 per cent renewable energy target by 2050.
The government subsidies will further anger those who believe coal-fired power is being squeezed out of the National Electricity Market.
After copping a barrage of criticism about not delivering a full budget this year, Mr Dick announced he will deliver a full budget on November 30 if the Palaszczuk government wins the election.
Mr Dick said the state's new $5 billion Queensland Future Fund – which will include $1 billion from the public servant Defined Benefits Scheme as well as some government assets including the Titles Registry and government-owned shares – will become active by June 30 next year.
The fund is taking some government assets off its book to make the state's budgetary position more attractive to credit rating agencies.
Despite the higher debt, Mr Dick said he did not think Queensland would have a further credit rating downgrade. It lost its AAA credit rating in 2009.
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@voodoo technically i guess he's right, we could be Victoria.
But this parroting that closing the border helps recovery is a bit fucking rich for those of us 2,100km away from Brisbane.
We in Qld do two things, dig stuff up and have nice places to holiday. If both of those things are fucked, then what?
The borders will magically re-open on November 1. The Gold Coast will go off, and during the tropical wet season no one will come north. awesome.
How are the economies faring in Europe where everything is open and people are moving around?
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@Siam said in Aussie Politics:
@NTA wow. Self appointed authority on journalism and wishing violence on someone not in breach of the laws of a country.
Progressive?
He's a self-appointed journalist, so I'll say what I like about the fluffybunny.
Having a channel for right wing click bait on YouTube makes you a journalist in much the same way playing prop makes me an All Black.
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@mariner4life said in Aussie Politics:
@voodoo technically i guess he's right, we could be Victoria.
But this parroting that closing the border helps recovery is a bit fucking rich for those of us 2,100km away from Brisbane.
We in Qld do two things, dig stuff up and have nice places to holiday. If both of those things are fucked, then what?
The borders will magically re-open on November 1. The Gold Coast will go off, and during the tropical wet season no one will come north. awesome.
Definitions of borders here have been fucking stupid too. Areas with lockdown where randomly done by council i.e Auckland.
We could have still used Franklin, Manukau, Auckland and Rodney, etc, as districts and not pissed off most of the population who weren't even remotely affected.
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@NTA said in Aussie Politics:
@Siam said in Aussie Politics:
@NTA wow. Self appointed authority on journalism and wishing violence on someone not in breach of the laws of a country.
Progressive?
He's a self-appointed journalist, so I'll say what I like about the fluffybunny.
Having a channel for right wing click bait on YouTube makes you a journalist in much the same way playing prop makes me an All Black.
He's employed by rebel media and apparently had permission credentials from the government.
But no matter, you win, I concede.
Not arguing with someone who publicly state they want the police to beat up anyone they disagree with.Are you OK?
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@Siam said in Aussie Politics:
He's employed by rebel media and apparently had permission credentials from the government.
Yet, there he is, getting arrested.
Why do you and @Mick-Gold-Coast-QLD think that is?
(Wait let me guess: Mick's answer is "African Gangs")
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@Siam said in Aussie Politics:
Are you OK?
BTW I'm fine.
What I'm not OK with in principle is Neo-nazi loving fucktards like Yemini fooling the gullible into believing he is - in any way - a reliable or trustworthy source of news. He's an associate of Blair "I Love Hitler" Cottrell FFS.
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Interesting two Qld Labor ministers quit at almost the same time
Kate Jones who has been alright as Tourism minister going is a strange one.
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@mariner4life prepare the popcorn, Jeeves
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@NTA said in Aussie Politics:
@mariner4life prepare the popcorn, Jeeves
not sure what is going on. I reckon they'll piss in the election, because they are still wildly popular in Brisbane, and there are enough people terrified of Covid in "the bush" that the border closure is popular. So 2 ministers not contesting 7 weeks from the election is weird
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@NTA said in Aussie Politics:
@Siam said in Aussie Politics:
He's employed by rebel media and apparently had permission credentials from the government.
Yet, there he is, getting arrested.
Why do you and @Mick-Gold-Coast-QLD think that is?
(Wait let me guess: Mick's answer is "African Gangs")
Don't know where that came from!
Much like you NTA I have no idea what you are going on about.
The next time I write on that subject will be the first time, here or anywhere.
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@Mick-Gold-Coast-QLD and funnily enough he wasn't arrested or charged with any offence.
He was simply apprehended, removed from the area with no subsequent actions. I hope the police justification for this wasn't because he's "right wing"I don't like the police doing this to any citizen.
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@Siam said in Aussie Politics:
@Hooroo said in Aussie Politics:
@Siam Looks as though he got what he deserved.
of course
I mean, don't put yourself in the position to get your head kicked in and you won't get your head kicked in.
Aussie Politics