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    Treasurer, Minister for Aboriginal and Torres Strait Islander Partnerships and Minister for Sport
    The Honourable Curtis Pitt

    Hard data on GSP is more evidence of Queensland’s strength

    Treasurer, Minister for Aboriginal and Torres Strait Islander Partnerships and Minister for Sport
    The Honourable Curtis Pitt

    Tuesday, February 16, 2016

    Hard data on GSP is more evidence of Queensland’s strength

    Key statistics released today show Queensland’s Gross State Product — a key measure of economic growth — accelerated to 2.6% for the year to the September Quarter 2015.

    Treasurer Curtis Pitt said the latest Queensland State Accounts released by the independent Queensland Treasury showed the state outperforming the rest of the nation which recorded GSP growth of 2.3% over the same period.

    “This latest hard data, like a range of other recent indicators,  shows the dividends delivered so far by the Palaszczuk Government’s careful management the of our state finances and economy,” Mr Pitt said.

    “It also shows how wrong the LNP is when it continues to make wild and baseless claims on economic performance as part of its deliberate campaign to talk down our state.

    “The LNP is now in its fourth year of talking down Queensland and they have no plans for Queensland’s future except the asset sales they hope to resurrect if they ever return to office.”

    Mr Pitt said exports from Queensland’s LNG industry — established by Labor — were helping to drive growth in the state.

    “Our exports in general were the standout performer of 2015, recording their best result since 2011 and nearly 13% higher than in 2014.  

    “Household consumption grew by 0.5% in the September Quarter. Queenslanders are spending again, and this is of course testament to Queenslanders knowing this is a Government who invests in jobs and innovation.

    “Dwelling investment continued to grow, up 2.5% in the September Quarter, and the Housing Institute of Australia reminds us, home building approvals in Queensland are now at their highest level in 21 years.

    “Queensland has also led the nation in business confidence for seven months in a row.

    “Prime Minister Malcolm Turnbull has acknowledge Queensland is leading the pack on business confidence, yet the Queensland LNP continues to ignore the hard data and continues on its destructive campaign to drag down confidence just to score political points.”

    Mr Pitt said the LNP would likely try again to talk down the State Accounts results by claiming the figures from Queensland Treasury were not sufficiently independent.

    “Yet the former Treasurer in the LNP government was very fond of the State Accounts and cited them in at least six separate media releases between March 2013 and March 2014,” he said.

    “But when the figures started reflecting a nosedive in growth thanks to his incompetent management and the destructive impact of the LNP’s ‘slash and burn’ management style, the former Treasurer suddenly stopped using the figures.”

    Link to QSA: http://www.qgso.qld.gov.au/products/tables/qld-state-accounts-tables/index.php

     

    Contact: 0447 316 432