Tag Archives: aaa

Ten years since Queensland lost its AAA credit rating

Posted on February 20, 2019 by Gene Tunny

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

Posted on June 9, 2018 by Gene Tunny

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?

Posted on May 15, 2018 by Gene Tunny

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

Posted on December 19, 2017 by Gene Tunny

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

Posted on October 31, 2017 by Gene Tunny

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

Posted on February 11, 2017 by Gene Tunny

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

Posted on December 14, 2016 by Gene Tunny

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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Qld Government opts for accounting tricks rather than true budget repair

Posted on July 14, 2015 by Gene Tunny

In the 2015-16 Queensland Budget, the Government has shown it subscribes to the maxim that one might as well be hanged for a sheep as for a lamb. The Government is undertaking at least three measures of dubious merit, including … Continue reading →

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4BC Drive interview on election costings – problems with economic plans from both major parties

Posted on January 31, 2015 by Gene Tunny

I had a nice chat with Ben Davis from 4BC’s Drive program yesterday afternoon on the economic plans the major parties are taking to today’s Queensland election. You can find the audio for the interview if you scroll down on … Continue reading →

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Goss Government was strong on economic management, possibly to its political detriment

Posted on November 10, 2014 by Gene Tunny

It was sad news indeed today that Wayne Goss has died at what is now a relatively young age of 63. He certainly made a fine contribution to Queensland during his years as Premier. In addition to the electoral and … Continue reading →

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