Retail spending up in Queensland

Treasurer Tim Nicholls has welcomed the latest Australian Bureau of Statistics (ABS) data released today, which shows retail spending rose 0.2 per cent in March to be 5 per cent higher over the year.

Mr Nicholls said the rise was ahead of the national increase of 0.1 per cent and meant Queensland’s retail spending had now risen in each of the past eight months.

“Our measured plan to cut red tape, reduce the cost of doing business and maintain Queensland’s competitive tax status is helping to grow a four pillar economy and create jobs,” Mr Nicholls said.

“The Queensland Government’s pro-growth approach is delivering results for retailers and the state’s economy.

“According to this latest ABS release, spending was up in the cafe, restaurant and take-away sector which saw their fifth consecutive quarter of growth, while spending on household goods was up 3.5 per cent.

“Food spending was up 1.5 per cent while clothing and footwear also increased by 0.1 per cent.

“Our government’s good economic policy is delivering growth for Queensland, however the state’s finances are still being constrained by the unprecedented problem of Labor’s $80 billion accumulated debt.

“We’ve worked in a disciplined and measured way to reduce debt, but the reality is the former government's accumulated debt legacy is shackling our ability to fund new services and infrastructure.

“The LNP’s measured, considered course of action will ensure the best value for Queensland taxpayers, securing financial independence into the future.”

[ENDS] 7 May 2014

Media contact: Anna Hilton 0408 191 192