Category Archives: Budget

$1k each power bill subsidy is an irresponsible & desperate vote-buying exercise

Posted on May 2, 2024 by Gene Tunny

It’s not uncommon to find energy subsidies being criticized in IMF reviews of emerging economies. They’re often a policy favoured by irresponsible autocrats, as we’ve witnessed in various economic basket cases like Venezuela under Hugo Chavez. It seems the Queensland … Continue reading →

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Huge upward revision in state debt – what’s going on?

Posted on April 17, 2024 by Gene Tunny

We’re getting close to the point where we must respect the adage “no one ever kicks a dead dog” about the current Queensland state government. But it’s left itself open to criticism about its latest huge upward revision to state … Continue reading →

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How the Qld economy has changed in recent decades

Posted on February 26, 2024 by Gene Tunny

The state and national economies have experienced similar trends by industry since 2000. The big changes have been the 2-3x increase in the mining sector’s importance since China’s economic growth started significantly influencing the global economy in the early-2000s (Figure … Continue reading →

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How the Palaszczuk Gov’t Failed to Abide By Its Own Fiscal Principles | What it Means for the Miles Gov’t

Posted on February 3, 2024 by Gene Tunny

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 →

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What’s the best measure of the Qld Gov’t budget balance? Net Operating Balance vs Fiscal Balance

Posted on June 22, 2023 by Gene Tunny

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 →

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Over half of Qld Budget’s $60bn of revenue upgrades used for additional spending over FY21 to FY24

Posted on June 19, 2023 by Gene Tunny

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 →

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Stopping poor infrastructure spending & pork barreling w/ Nicholas Gruen

Posted on June 10, 2023 by Gene Tunny

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 →

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What is the fiscal impulse from the Australian Budget?

Posted on May 23, 2023 by Gene Tunny

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 →

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Qld Gross State Product was up 22% in dollar terms in 2021-22

Posted on July 5, 2022 by Gene Tunny

Hidden in a note to its economic forecasts table in the state budget was the extraordinary estimate from Queensland Treasury that, in nominal dollar terms, the state economy expanded 22% last financial year, 2021-22 (see the chart below based on … Continue reading →

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Qld’s bolshie budget – my latest thoughts

Posted on June 22, 2022 by Gene Tunny

Reading the Courier-Mail’s latest state budget reporting, quoting Cameron Dick as a self-proclaimed Robin Hood Treasurer, it’s clear the state government no longer gives a damn what business thinks. It’s gone full-on economic populist with its royalties hike ($1.2bn over … Continue reading →

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