Union demands for large public sector wage rises risk punching a hole in “unrealistic” state government budgets, ratings agency S&P Global has warned as Queensland’s police officers, teachers and nurses threaten rolling strikes and NSW psychiatrists demand a 25 per cent pay rise.

Queensland Premier David Crisafulli is expected to meet with the Queensland Council of Unions next week to begin discussions on expiring public sector enterprise bargaining agreements after the union movement on Monday threatened industrial action.