Category Archives: Budget

Townsville Super Stadium-land sales link would only be indirect

Posted on January 17, 2013 by Gene Tunny

Rugby league has a massive following in Townsville, and I remember there was a betting comp on the Winfield Cup among students at Kirwan High in the late eighties, back when the Broncos were the only Queensland team in the … Continue reading →

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Debt ceiling is an important constraint on government expenditure

Posted on January 16, 2013 by Gene Tunny

I’m somewhat surprised that the Economist in its latest issue argues the US debt ceiling “serves no useful purpose and should be abolished” (From cliff to ceiling). A debt ceiling is important because it forces the Government to consider the aggregate … Continue reading →

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When will Queensland get its AAA credit rating back?

Posted on December 20, 2012 by Gene Tunny

I’m unsurprised by Wayne Swan’s announcement the surplus is unachievable – it always was, even when the outlook was better, as I posted on previously (Budget turnaround looks implausible in Treasurer’s chart). Also the Queensland budget update today contained no surprises, … Continue reading →

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MYEFO mystery – weird negative contingency reserve continues

Posted on October 22, 2012 by Gene Tunny

I share the skepticism of many commentators about the budget forecasts in today’s Mid-Year Economic and Fiscal Outlook (MYEFO). Certainly the revenue grab from increasing the frequency of company tax payments seems tricky, and I wonder if it really will … Continue reading →

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Fitch downgrade of Qld credit rating is unwarranted

Posted on September 13, 2012 by Gene Tunny

Treasury officials generally put on a good morning or afternoon tea when staff from rating agencies such as Fitch, Moody’s and Standard and Poor’s come for their regular consultations on fiscal policy. If I were a Queensland Treasury official, I’d … Continue reading →

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My favourite Budget measure: the Public Sector Renewal Program

Posted on September 11, 2012 by Gene Tunny

When I first read in the Budget that the Government is spending $15 million over the next four years to help it identify savings, I remembered the Yes Minister episode when the Minister challenges Sir Humphrey on departmental spending on … Continue reading →

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Public sector job cuts may be showing up in unemployment data

Posted on September 7, 2012 by Gene Tunny

The Queensland unemployment rate slightly increased in August (see the nice OESR chart below), and the public sector job cuts (and hiring freeze) we’ve seen so far are a likely contributor, although again I’d caution not to read too much … Continue reading →

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Consumer sentiment decline most likely only temporary

Posted on August 20, 2012 by Gene Tunny

There is a good post at Macro Business by blogger Delusional Economics on Westpac’s consumer sentiment index, which has fallen sharply in Queensland: Sentiment nosedives in Queensland I expect consumer sentiment will rebound when next month’s budget reveals public service … Continue reading →

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2011 Census data shows Qld population previously over-estimated – implications for GST carve up

Posted on June 20, 2012 by Gene Tunny

Queensland Treasury bean counters wouldn’t have been happy when they saw the new ABS population estimates, which incorporate 2011 census data, and which contain a downward revision in Queensland’s estimated population (by 106,000 people) and share of Australia’s total population … Continue reading →

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Mining riches should help pay off debt, not fund dubious regional development projects

Posted on June 19, 2012 by Gene Tunny

Just as it is odd to call for a sovereign wealth fund to save the benefits of the resources boom, so it is also odd to call for those benefits to be diverted to funding regional development projects. The Cairns … Continue reading →

Posted in Budget, Cairns | 2 Comments