Tag Archives: aaa

Ten years since Queensland lost its AAA credit rating

Ten years ago, on 20 February 2009, then Queensland Treasurer Andrew Fraser released the Economic and Fiscal Update which forecast lower revenues, large deficits and burgeoning debt. S&P promptly downgraded the state of Queensland from a AAA credit rating to AA+ … Continue reading

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What I’m expecting from the 2018-19 Qld state budget

This coming Tuesday, 12 June, Queensland Deputy Premier-Treasurer Jackie Trad will deliver her first state budget. It is her best chance to establish her economic credibility. Trad is fortunate the state economy is performing reasonably well, albeit not strongly across … Continue reading

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How did the Qld government accumulate so much debt?

One of Queensland Deputy Premier-Treasurer Jackie Trad’s biggest challenges in her first state budget, to be delivered next month, is to demonstrate a credible debt reduction strategy. She needs to show how she can reduce state debt from its current … Continue reading

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Critical Qld Gov’t debt metric still projected to worsen

Yesterday’s Mid Year Fiscal and Economic Review revealed Queensland Government debt forecasts marginally lower than they were at budget time in June, but total borrowings will still reach nearly $81 billion by mid-2021. As Steven Wardill notes in today’s Courier-Mail: … Continue reading

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Comments on Qld state debt to the Courier-Mail

I am quoted in today’s Courier-Mail in an article on Queensland state debt, which for the whole Queensland Government (incl. government-owned businesses) is on its way to over $80 billion (see chart below). The paper reports on the Premier’s failure … Continue reading

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HSBC’s Paul Bloxham on the economic outlook and President Trump

Last Thursday, Paul Bloxham, HSBC Chief Economist for Australia and NZ, gave an excellent briefing on the economic outlook at a lunchtime event organised by the French Australian Chamber of Commerce and Industry (FACCI), and hosted by Clayton Utz at … Continue reading

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Higher royalties improve Qld budget bottom line, but work still needed on budget repair

As we have been expecting for some time, higher coal prices and thus royalties (see chart below) have translated into a much improved State Budget balance, with the Queensland Treasury now forecasting the biggest operating surplus ($2 billion) in a … Continue reading

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