My comments in today’s Courier-Mail on $3bn Qld revenue write-down

Yesterday’s announcement that the Queensland Budget will suffer a further $3 billion in revenue write-downs confirmed what I have been saying for a while now about Queensland’s under-performing economy. I am quoted in today’s Courier-Mail (pay-walled, sorry) noting that the news reinforces the need to be prudent in spending and to consider privatisation of government-owned businesses. The ratings agencies (Moody’s, S&P, etc) will take a dim view of our fiscal performance if we cannot control spending and show a credible path to a fiscal surplus.  I am quoted this morning as follows:

Former Commonwealth Treasury official Gene Tunny said the revenue writedowns delay hopes of Queensland reclaiming a AAA credit rating and highlight the need to sell or lease state-owned assets.

“I think the rating agencies will take a very dim view of that,” he said.

“It just underlines the need for prudent spending and the consideration of asset sales.”

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2 Responses to My comments in today’s Courier-Mail on $3bn Qld revenue write-down

  1. Stephen Austin says:

    Gene, in case your interested cut and paste this link. It is yesterdays program where I interviewed Nick Behrend’s on the budget write downs.



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