Treasurer and Minister for Trade
The Honourable Tim Nicholls

Treasurer briefs Industry and Business Leaders

Queensland Treasurer Tim Nicholls has today briefed key business and industry representatives on the findings in the Independent Commission of Audit’s Interim Report.

The Report, released on Friday (June 15) and authored by the Hon Peter Costello AC, Professor Sandra Harding and Dr Doug McTaggart, provides a detailed analysis of the state of Queensland’s finances.

Representatives from a broad range of sectors including agriculture, resources, tourism and retail and hospitality attended Mr Nicholls’ briefing held at Parliament House.

Mr Nicholls informed attendees that Queensland faced challenging times, but the Newman Government was committed to restoring the state’s financial health.

“This Government is committed to taking the decisive action needed to help get Queensland back on track,” Mr Nicholls said.

“Under the former Labor Government, the state of Queensland began living beyond its means and debt ballooned to unsustainable levels .

“It is disturbing to report state debt is heading for $100 billion by 2018-19.

“That equates to $18,729 of debt for every man, woman and child in Queensland.

“In 2000 that figure was $3,814 for every man, woman and child for a $14 billion debt.”

Mr Nicholls said today’s briefing was the first in a series of meetings taking place through the week.

He will also brief union leaders, crossbenchers and the Opposition should Labor MPs accept his invitation, later in the week.

“We need a collective commitment from all key industry groups, businesses and unions across Queensland to help us in the task ahead,” he said.