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Author Archives: Gene Tunny
How the Palaszczuk Gov’t Failed to Abide By Its Own Fiscal Principles | What it Means for the Miles Gov’t
The Palaszczuk Government breached its own self-imposed fiscal principles and had to introduce new weaker principles in 2021. The Queensland Government, now headed by Premier Miles but with the same Treasurer, is at risk of breaching two of its revised … Continue reading
The Queensland Economy Post-Palaszczuk
Summary Given its strong potential, the Queensland economy should be doing much better than it is, particularly regarding its business and housing investment levels. Furthermore, the state has not had the rebound in manufacturing that Palaszczuk suggested at her final … Continue reading
Posted in Industry policy, Macroeconomy
Tagged abs, australia, capex, manufacturing, qld, queensland
2 Comments
Rookwood Weir illustrates how richer countries can better protect the environment
The nearly finished Rookwood Weir on the Fitzroy River in Central Queensland illustrates how wealthier countries can afford to look after the environment better than poorer countries. It is a good example of why calls for ‘degrowth’ should be rejected. … Continue reading
“Axis of evil” had good reasons to block Housing Australia Future Fund
I was stunned earlier this week when I heard the federal Greens had been accused of being in an “Axis of evil” with the Coalition in blocking the Housing Australia Future Fund (HAFF). Sure, the Greens’ call for rent controls … Continue reading
What’s the best measure of the Qld Gov’t budget balance? Net Operating Balance vs Fiscal Balance
On Tuesday night I was on a panel discussing the Queensland state budget at an Australian Taxpayers’ Alliance (ATA) event held at the Paddington Tavern. One of the points discussed was the spin regarding the biggest-ever surplus for Queensland of … Continue reading
Over half of Qld Budget’s $60bn of revenue upgrades used for additional spending over FY21 to FY24
Queensland general government revenues are $60 billion higher than once expected over 2020-21 to 2023-24, but debt is only $23 billion lower, with total spending revised up by around $32 billion. Some of this is understandable due to higher inflation … Continue reading
Stopping poor infrastructure spending & pork barreling w/ Nicholas Gruen
Around the corner from my Brunswick St office, at the RNA showgrounds, work is underway on the Exhibition station upgrade so it’s ready for Cross River Rail, Brisbane’s new subway system. This appears to have necessitated traffic control on Gregory … Continue reading
Posted in Budget, Infrastructure
Tagged crossriverrail, infrastructure, infrastructureaustralia
1 Comment
What is the fiscal impulse from the Australian Budget?
The Australian Government is moving in the right direction, but not fast enough, with fiscal policy if it wants to fight inflation. It appears too reliant on the expected cessation of pandemic-related stimulated measures to support its claim that the … Continue reading
Qld economic outlook talk at Phil Di Bella’s Coffee Commune this Friday 19 May
The big economic question for 2023 is how much the Australian economy will slow down in response to interest rate increases, regarding which we should expect more to come. Queensland’s economy will benefit from a high-performing mining sector, but there’s … Continue reading
Posted in Uncategorized
Tagged abs, budget, capex, jobs, qld, queensland, retail, tourism, vacancies
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Size and structure of the Qld economy: today vs 1939-40 using Colin Clark’s estimates
Back in the nineties, a history-conscious Queensland Treasury official saved a 1944 chart on “Post-war Employment Planning” from the rubbish bin during an office cleanout (Figure 1). On his retirement from the public service, that official gave me the chart. … Continue reading
Queensland Economy Watch 