Queensland leads again on business confidence

Treasurer Curtis Pitt says the latest National Australia Bank index shows Queensland recording the highest business confidence in the nation for eight months in a row.

“The latest survey again reflects the positive results of our Economic Plan that has delivered 71,700 extra jobs across the state in the past year; a jobless rate at a two-year low, and a growing economy,” Mr Pitt said.

The NAB business confidence index for February showed:

•          Queensland again leading with a rating of 7 on a trend basis, followed by Tasmania (5) and NSW (4). The national rating was 3.

•          Queensland was the only state where there was an improvement in business conditions on a trend basis — up 7 points to 8 points to be the equal second mainland state with Victoria.

“Since last year’s State Budget, Queensland businesses have consistently been the most optimistic of any mainland State in Australia,” Mr Pitt said.

“In the Palaszczuk Government’s first year our pro-jobs Economic Plan and cooperative and consultative approach has helped rebuild business confidence levels that slumped under the ‘slash-and-burn’ approach of the former LNP government.

“In just a year we have delivered a Budget surplus, created jobs, restored confidence, and outlined $10.1 billion in infrastructure spending for this year — all without the need for asset sales.

“Initiatives such as our Market-Led Proposals have been welcomed by business and industry as a way to harness private sector ideas and investment for new infrastructure or services.

“We have already seen two major projects advance to the detailed assessment stage under our MLP initiative — the $450 million Logan Motorway Enhancement project and the proposed $100 million Brisbane Cruise Ship Terminal. There are more than 30 MLP proposals in the initial assessment stage.

“We have also introduced our $40 million Business Development Fund through Advance Queensland to partner with the private sector and help turn bright business ideas into commercial reality.

“Our approach has rebuilt business confidence across our state. Yet the state LNP continues its campaign of relentless and destructive negativity, even though Prime Minister Malcolm Turnbull has cited last month’s NAB survey to declare: ‘Business confidence is highest in Queensland….’.

“That was true last month and it’s true again today. We have led the NAB index on business confidence for eight months in a row.

“Yet the LNP in Queensland deliberately ignore the facts. Opposition Leader Lawrence Springborg and Shadow Treasurer John-Paul Langbroek take every opportunity to talk down Queensland.

“They and their colleagues are in their fourth year of talking down our state in a bid to convince Queenslanders to accept the LNP’s one-point plan — asset sales,” he said.

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