Author Archives: Gene Tunny

Resources sector investment driving State demand

Posted on March 10, 2012 by Gene Tunny

The resources states of Queensland and WA were the heroes of the ABS National Accounts released on Wednesday, with very strong growth in State Final Demand recorded over 2011: But nationally economic growth was lacklustre, and the two-speed economy continues, … Continue reading →

Posted in Infrastructure, Macroeconomy, Mining | Leave a comment

Government misses 100,000 jobs target

Posted on March 8, 2012 by Gene Tunny

It’s undeniable the Queensland economy has been weak in recent years, and as a consequence the Government has been unable to hit its unambitious jobs target of 100,000 new jobs, which it announced during the 2009 election campaign: I’m looking … Continue reading →

Posted in Labour market | Leave a comment

Risk of dubious expenditures under Royalties for the Regions

Posted on March 6, 2012 by Gene Tunny

I’ve found it odd that both the Government and Opposition have made election commitments to regional pork-barreling funds that have names based on Western Australia’s Royalties for Regions program. Today’s Australian reports: ANNA Bligh has denied that her $300 million … Continue reading →

Posted in Budget | 2 Comments

Huge surge in mining capital expenditure means healthy Qld economy

Posted on March 2, 2012 by Gene Tunny

Yesterday’s new private sector capital expenditure data from the ABS shows the Queensland economy is in excellent health and will easily reach Queensland Treasury’s forecasts of economic growth of 4.25% and a 35% pick up in business investment in 2011-12. … Continue reading →

Posted in Macroeconomy, Mining, Tourism | Leave a comment

Sovereign Wealth Fund not a priority

Posted on February 29, 2012 by Gene Tunny

Former ANU economics professor and now Federal Labor MP Andrew Leigh spoke yesterday on the arguments for and against a Sovereign Wealth Fund for Australia (Wrong time for a Sovereign Wealth Fund). Andrew concluded: …in the current economic environment it … Continue reading →

Posted in Budget | 1 Comment

Treasury will find diversity target hard to meet

Posted on February 28, 2012 by Gene Tunny

Treasury Secretary Dr Martin Parkinson gave a speech in Canberra today setting out Treasury’s agenda to increase the diversity in its ranks, which is an admirable goal given line agencies joke they can tell Treasury officers by their dark suits … Continue reading →

Posted in Labour market | Leave a comment

Resources sector jobs multiplier

Posted on February 25, 2012 by Gene Tunny

Following my post last week on the Brisbane Economic Development Plan, an informed reader suggested that the source of the eyebrow-raising resources sector jobs multiplier of 19 may have been the Queensland Resources Council-sponsored study of the sector’s economic contribution … Continue reading →

Posted in Brisbane, Labour market, Mining | 2 Comments

Qld much more costly to run than other States

Posted on February 25, 2012 by Gene Tunny

The Commonwealth Grants Commission announced yesterday that Queensland’s share of GST revenue will increase from around 19% in 2011-12 to 20% in 2012-13, largely reflecting increased costs due to natural disasters (see 2012 Update Report). In addition to its update … Continue reading →

Posted in Budget, Cyclones, Floods, Tax | Leave a comment

Qld Treasury expects recovery in interstate migration and building industry

Posted on February 24, 2012 by Gene Tunny

Queenslanders can expect the State’s sluggish building industry and interstate migration to rebound this year, according to Queensland Treasury’s Office of Economic and Statistical Research (OESR). In its latest Queensland Economic Review, OESR notes: …a number of factors should support … Continue reading →

Posted in Macroeconomy, Migration | 1 Comment

Public sector starts to show wage restraint

Posted on February 22, 2012 by Gene Tunny

Given the budgetary challenges facing State Governments across Australia, it was good to see signs of public sector wage restraint in the latest ABS Labour Price Index data. This chart for Queensland shows private sector wages are now growing slightly … Continue reading →

Posted in Labour market | Leave a comment