Report shows services improved and waste cut

Queensland families are getting more and better frontline services for a lower cost, Treasurer Tim Nicholls said when tabling the Report on State Finances 2013-14 in State Parliament today.

Mr Nicholls said repairing the State’s finances had been the first priority of the Government when it was elected in 2012.

“Years of Labor governments spending more than they earned had seen Queensland lose its AAA credit rating and the State was facing a debt burden headed for $85 billion by Labor’s own estimates,” Mr Nicholls said.

“We immediately put in place the Commission of Audit to chart a course for fiscal repair and made some hard decisions to cut spending.

“Today’s report shows those actions are delivering results but there is still a lot of hard work ahead.”

The final budget outcome for 2013-14 includes:

• A net operating surplus of $619 million, the first operating surplus in five years
• A fiscal deficit of $2.58 billion, the lowest since 2006-07 but still the highest of any state
• Expenses were $198 million lower than in 2012-13, a fall of 0.4 per cent
• Debt sitting at $73 billion and forecast to reach $80 billion.

Mr Nicholls said the Government had achieved these results while at the same time delivering on its strong plan for more frontline services.

“We’ve cut the waste and focused our spending where it is needed,” he said.

“There are 800 more police on the beat than when we came to office, there are an extra 760 teachers and teacher aides in our classrooms, our hospitals have cut surgery waiting times and the long wait dental list which had 62,000 patients on it has disappeared.”

Mr Nicholls said debt remained a big problem and the fiscal repair task the Government had begun was far from over.

“Even with the most prudent financial management we have not been able to make significant inroads into Labor’s debt so we must do more work,” he said.

“Our Strong Choices plan is a plan to reduce debt by $25 billion, fund $8.6 billion in job creating infrastructure projects and reduce cost of living pressure with a $3.4 billion fund to help reduce electricity costs.

“They are not easy choices but they are necessary if we are going to repair the State’s finances and build a brighter future for Queensland with the schools, hospitals, roads and rail our growing State will need.

“The real choice for Queenslanders at next year’s election will be a choice between the Government’s strong plan from a strong team to build a stronger Queensland or no plan at all from Labor.

“The Government has made clear its commitment.

“We are determined to continue with our hard work to ensure all Queenslanders can share in a prosperous and secure future.”

[ENDS] 27 November 2014

Media contact: Maree Lacey 0409 947 957 or Anna Hilton 0408 191 192