David Janetzki spends third of his time as treasurer on holidays
Queensland’s newly minted Treasurer is facing growing criticism for taking a three-week holiday after delaying a mid-year budget update in light of a growing list of inherited cost blowouts.
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Queensland’s newly minted Treasurer David Janetzki has spent a third of his time in the job on holidays after delaying a major economic update, with his replacement unable to explain how a $24bn budget black hole will be funded.
Acting Treasurer Deb Frecklington declined to emphatically declare the LNP’s costings, released days before the election, could be delivered after inheriting major cost blowouts across health, transport, energy and water projects.
She also would not rule out borrowing more cash to fund the budget’s missing billions, saying debt would always be lower under the LNP than Labor.
The state government is yet to explain how it plans to fill a deepening $24bn budget black hole — which includes $21.8bn in project blowouts across health, water, energy and transport and $1.8bn for the Bruce Highway.
The LNP has repeatedly promised to lower debt, not raise or introduce taxes, protect public service jobs, not sell assets and not cut any projects.
This leaves the new government with none of the four major levers — as identified by independent economist Saul Eslake — to pull in order to run cash surpluses and in turn pay down debt.
Mr Janetzki is facing growing criticism for taking a three-week holiday after delaying a mid-year budget update in light of a growing list of inherited cost blowouts and warnings of a credit rating downgrade.
His end-of-year sojourn means Mr Janetzki has been on holiday for three of the ten weeks since being officially sworn in as Treasurer and Energy Minister.
Shadow treasurer Shannon Fentiman said it was outrageous the LNP had delayed being open and honest to Queenslanders to go on holidays.
Ms Frecklington, who has taken on his responsibilities between December 22 and January 12, defended her colleague’s right to a well-earned break with his family and his children.
She could not say if the LNP would be willing to borrow money to fill the budget black hole, or if pre-election costings which forecast a decline in total debt every year into 2027-28 could be honoured.
Ms Frecklington was adamant the LNP would not break election commitments.
“Let’s remember debt will always be lower under the LNP than under Labor. Let’s remember a decade of huge debt trajectories under Cameron Dick and all the other former Labor Treasurers,” she said.
“This was a government that spent 10 years recklessly spending our money not caring about Queensland’s back pocket.
“We’ve always said we’ll be clear and methodical.”
Cost blowouts inherited by the LNP include the hospital big build program growing from $9.87bn to $19bn on conservative estimates, the Borumba Pumped Hydro Project increasing by $4bn, and the CopperString transmission project growing to a whopping $9bn.
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Originally published as David Janetzki spends third of his time as treasurer on holidays