Cutting debt the big challenge for the incoming Government

QUT’s Mark McGovern had a great article published at the Conversation yesterday titled Standing in the shadow of debt in the Sunshine State, in which he argues the challenge of cutting Queensland Government debt has been ignored by both sides in the election campaign:

The mortgage on the state is set to increase, with all parties promising more major infrastructure projects. The South East Queensland Councils advertise Labor, LNP and Greens as ticking off a continuance of $6 billion annually in infrastructure spending in their region alone. Some royalties are to be diverted to mining regions to address their acute problems. Mackay, for example, “needs” a $240-million ring road, but this seems well down the list.

The Commission of Audit that Campbell Newman has announced he will establish in the first 100 days will have a tough job to do, and I expect it will recommend a number of election promises are unviable after it receives the latest budget forecasts from the Treasury.

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