What you said about Qld’s debt of $188bn

A war of words has broken out after it was revealed just how bad Qld’s debt really is. HAVE YOUR SAY

Treasurer Cameron Dick in parliament on Tuesday. Picture: Tertius Pickard/NCA NewsWire

Recoverable debt bomb … or an almighty atomic explosion?

Queenslanders aren’t sure after Treasurer Cameron Dick revealed earlier this week the state’s debt will swell to a whopping $188bn in just four years.

Claiming dwindling coal royalties and tough economic headwinds as factors, Mr Dick said new Treasury forecasts in the lead up to the June state budget showed government borrowings are set to double to $128bn between now and 2027-28, as net debt quintuples to $73bn.

The new preliminary figures prompted Mr Dick to concede the next state budget will be difficult.

And he’s warned the upcoming state election cannot be an unsustainable spending spree, signalling the campaign will need to have few big-ticket promises on both sides to keep spending in line.

News of the forecast sparked fury among readers.

Some claimed it was another sign of Labor’s failure in government; others said cancelling the polarising Olympic Games in 2032 was the best solution.

Others fear yet more pain could hit the state amid a rising cost of living crisis.

See what you had to say and join the conversation below >>>

WHAT YOU SAID

Another Labor mess

W

Is Dick willing to concede his tax royalty grab is the reason why Queensland is rapidly losing income from coal? Labor trying to bully the resources sector has only hurt Queenslanders – well done Labor and Dick

Mark

These numbers are undercooked and exclude all the off balance sheet debt the govt is hiding in GOCs, Stat Authorities and the like. This includes EQ, QR, QIC and a myriad of others that will need to be unpeeled if we ever get to throw this mob out.

Jessica

The one area this Labor government has excelled in, increasing the State debt. Failed promises also ranks very highly!

paul

Very simple – Labor and Unions have rorted the public purse so severely that we are running out of money. Time to allow a recession to smash the economy. So We can get Labor and Unions under control.

Sounding Bored

And the commitments they’ve made will leave the LNP with a financially increasing burden. Disgusting.

Queensland Deputy Premier Cameron Dick has released debt figures. Picture: NCA NewsWire/Tertius Pickard

PANIC!

Neale

When a State Treasurer says don’t panic concerning debt … PANIC.

PEN DING

don't panic … sounds like dads army. don’t panic don’t panic

Garry

The worst part is that with Labor you know it’s much worse than they are owning up to.

Tom

And what have we got to show for it? A crumbling health and education system. Rampant youth crime. Our roads and major infrastructure projects are a shambles. You wouldn’t let these clowns run a school tuck shop let alone the State … for 3 decades

Time to cull

Pedro the elder

Cancel the 2032 Olympic Games bit to start. Why should we, our children and our grandchildren be lumbered with that debt when it is clear there are far more pressing issues needing more urgent use of what money is available. Put on hold the new stadiums, the road and rail enhancements to support the games and concentrate on all of our State needs and not this small elitist group most of whom will visit Brisbane only for the period of the games and many will be there at our costs as well.

Ian

stop giving our money to the unions and our state will prosperity to no end

Rational Thinker

Cancel the Olympics. We cannot afford it thanks to Labor.

Reg

Wasn’t that the catch cry on the Titanic. Time to cancel the games

William

get rid of the dreaded 30% union tax will go a long way to help infrastructure

Originally published as What you said about Qld’s debt of $188bn