Thanks to Ross Elliott from APP Property and Infrastructure Specialists for having invited me to present again at his annual Queensland: Hot or Not seminar at the Brisbane Club yesterday afternoon. It’s very clear the Queensland economy, and the broader national economy, isn’t hot at the moment and isn’t likely to heat up anytime soon. You can check out my slides via this link:

Qld hot or not presentation 18 February 20

Key points I made included:

• the large uncertainty regarding the ultimate impact of coronavirus/COVID-19 (check out CCIQ Coronavirus interview – Chief Economist “very concerned” about potential impacts)
• Queensland’s over-reliance on the public sector for growth (e.g. see my post Qld private sector spending has been falling while government has continued to grow)
• some positive news in the form of a big pick up in non-residential building approvals and strong growth in meat and LNG exports over 2019 – incidentally, partly thanks to exports from Gladstone, Australia is now the largest LNG exporter in the world (see this Queensland Country Life report)
• it’s an election year so expect a big spending early budget in April and get your business cases ready if you’re looking for a state government contribution to a regional project

Addressing the Hot or Not seminar in the Edinburgh Room at the Brisbane Club on Tuesday, 18 February 2020