Qld Budget 2020: Economic update followed by mini-estimates

The State Government is set to release its economic update in the coming week, before facing a parliamentary grilling.

The State Government will release its economic update next Monday, with the Treasurer and Premier expected to face a parliamentary grilling four days later.

Delivery of the Queensland Budget was cancelled this year due to the COVID-19 pandemic and the economic update will be delivered instead, just eight weeks before Queenslanders are due to vote.

Together Union reveals public service wages to increase after ruling by Fair Work Commission

Coronavirus Qld: State‘s $300m Budget black hole

Premier Annastacia Palaszczuk and Treasurer Cameron Dick will take part in a mini-Budget estimates session on Friday week to take questions from Government and Opposition MPs on the update.

Mr Dick has already revealed Queensland’s debt figure will reach $100.7 billion by June 2021, up from the $83.8 billion predicted in December, with half of that on the books of government-owned corporations.

The 2019-20 year ended with a $5.9 billion deficit instead of the $151 million surplus predicted in the Mid-Year Fiscal and Economic Review, and GST receipts have fallen by $2.5 billion over two years.

That’s come as Queensland has seen a catastrophic fall in revenue of at least $6.5 billion over 2019-20 and 2020-21.

At the same time, it’s spent $6 billion on COVID-19 health and economic initiatives.