Tag Archives: budget

Extra GST revenue welcome, but Qld still faces big fiscal challenges

Posted on April 10, 2016 by Gene Tunny

The Queensland Government must be pleased the Commonwealth Grants Commission (CGC) has recommended it receive an additional $520 million above what it might have expected from the GST revenue carve up for 2016-17 (see 2016 Update Report). The gain to … Continue reading →

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Why is budget repair so difficult?

Posted on March 13, 2016 by Gene Tunny

One of my favourite movie scenes is from Jaws, when Roy Scheider’s character Martin Brody, after seeing the shark for the first time, tells the captain “You’re going to need a bigger boat.” That scene came into my mind in … Continue reading →

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How the Qld economy performed over 2015

Posted on December 31, 2015 by Gene Tunny

In 2015, the Queensland economy proved itself resilient to the end of the mining boom, and recovered from the apparent downturn, a so-called technical recession, at the end of 2014. Even though the economy is proving resilient, growth is at … Continue reading →

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Merger savings good if they occur, but debt shuffle dubious

Posted on December 15, 2015 by Gene Tunny

I am very flattered the Courier-Mail has a story about me this morning with the title on its website of The man who could clear Qld’s deficit: THE forecast deficit of $1.5 billion could be overcome by courageous decisions made … Continue reading →

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QCA and Premier’s Department have shown where Government can find budget savings

Posted on December 14, 2015 by Gene Tunny

The need for difficult decisions to repair Queensland’s Budget is reinforced by news that, due to the drop in coal prices and a slower economy, revenue will be further written down by $1.5 billion over the next four years. The … Continue reading →

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Energy GOCs equity raid a good example of problem with public ownership

Posted on October 8, 2015 by Gene Tunny

I was quoted in the Courier-Mail this morning regarding the $3.5 billion the Queensland Government has withdrawn from equity in its power businesses (see chart above) for the purposes of paying down debt (see Earnings grab quick debt fix, Pitt … Continue reading →

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Qld Govt expenditure growth has resumed after extraordinary period of austerity

Posted on July 19, 2015 by Gene Tunny

The debate over the 2015-16 Queensland Budget continues, with the Courier-Mail publishing an opinion piece by State Political Reporter Steven Wardill, Today’s problems in Queensland bigger tomorrow after Budget, say economists, quoting me and fellow economist (and friend and former … 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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Accounting trick wouldn’t improve Qld Government’s real financial position

Posted on July 10, 2015 by Gene Tunny

Today’s Courier-Mail features an exclusive from State Political Reporter Steven Wardill on “Pitt’s Debt Trick.” It suggests the Government intends to transfer $4.1 billion of debt from the General Government sector (i.e. the government agencies such as health and education) … Continue reading →

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Courier-Mail story on Qld Govt’s fiscal challenges

Posted on June 13, 2015 by Gene Tunny

I was quoted by John McCarthy in an article in today’s Courier-Mail (see image above) regarding the Queensland Government’s fiscal challenges. I’ve previously commented on the big challenge the Government has of sticking to its fiscal strategy announced at the … Continue reading →

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