Can Queensland dig itself out of a $109 billion budget black hole?
Successive governments have announced, but never really stuck to, top-down fiscal rules designed to ensure the state’s finances don’t get out of control.
Reading Queensland’s 2024-25Mid-year Economic and Fiscal Review alongside the State Budget 2024-25 released just seven months ago, one might be forgiven for thinking something cataclysmic has happened in the interim to warrant an almost doubling of the accumulated fiscal deficits over the next four years from $59 billion to $109 billion.
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Joe Branigan is director of Tulipwood Economics and a public policy economist.
