Confidence in Queensland hits three year high

Queenslanders are more confident about the future of the State than at any time in more than three years, according to the Courier-Mail’s latest Queensland Index released today.

Treasurer Curtis Pitt said the result reflected Queensland’s strengthening economic conditions.

“Queenslanders have enormous cause for optimism about the future of our great State,” he said.

“Economic growth is strengthening, more than 43,800 jobs have been created in Queensland since the State Election and we’ve led the nation on business confidence for four months straight according to National Australia Bank.

“We have all the right ingredients for growth and Treasury forecasts Queensland will have nation-leading growth over the next two financial years.

“Independent analysts Deloitte Access Economics have also forecast Queensland will lead the nation on economic growth over the same period.”

According to today’s Queensland Index, optimists outweigh pessimists when it comes to whether Queensland is heading in the right direction.

57 per cent of respondents replied “Yes” to the question of “Overall, do you think that Queensland is heading in the right direction?”

This delivered a net positive reading of +27 per cent – the highest Queensland Index reading since August 2012 and the third highest reading since February 2009.

Mr Pitt said Queensland’s economic growth was accelerating under the Palaszczuk Government.

“Queensland Treasury’s Gross State Product figures show the state economy grew at 1.3 per cent in the June quarter 2015, to be 2.2 per cent higher over the year,” he said.

“Our exporters are firing on all cylinders, with merchandise exports up 21% over the year to September including $1.75 billion in LNG exports from the Port of Gladstone and a 27.5% rise in beef exports to $5.6 billion.

“But we’re not just a ‘rocks and crops’ economy – we have one of the most diversified economies in the nation.

“No single sector of the economy accounts for more than 11 per cent of Gross State Product and we have a wide range of sectors contributing to growth.

“Agriculture, education and tourism are all growth sectors of the economy and they’re all vital to delivering jobs now, and jobs for the future.”

Mr Pitt said the Palaszczuk Government’s $180 million Advance Queensland innovation package was helping to create the high tech jobs of the future.

“There’s also a strong pipeline of development in Queensland, including major projects such as Aquis in Cairns and the Herston Quarter and Queens Wharf in Brisbane,” he said.

“Queens Wharf – a $3 billion project which will deliver an extra $1 billion to the budget – is an exciting project that will transform Brisbane.

“Last week we saw QGC announce a new $1.7 billion investment in the LNG industry which will support 1,600 jobs, with Queensland also set to benefit from the construction of an $800 million gas pipeline from the Northern Territory to Mount Isa.

“Queenslanders should be confident about where the State’s headed and that the Palaszczuk Government will continue to promote jobs, growth and investment.”

Media contact: Martin Philip 0427 919 548