Published Monday, 06 August, 2007 at 01:34 PM
Premier and Minister for Trade
The Honourable Peter Beattie
HOWARD GOVERNMENT’S DESPERATE CLAIMS EXPOSED BY THE ECONOMIC FACTS: BEATTIE
Queensland Premier Peter Beattie said the increasingly desperate attempts by the Howard Government to blame others for their own woes were exposed today by Queensland’s economic report card.
“No doubt growing concern that home buyers are facing their fifth consecutive interest rate rise since the Prime Minister pledged to keep rates low is driving some of the silly claims being made today,” Mr Beattie said.
“On any test you care to mention the Queensland Government has demonstrated its commitment to successful and careful economic management.
“The Prime Minster doesn’t have to take my word for it, he should listen to the Governor of the Reserve Bank who said earlier this year: ‘It would be generally agreed by most people that infrastructure for investments of various kinds needs to be done…Balance sheets of governments in this country, by and large, are in very good shape. They will not have any trouble borrowing money from the lenders of the world for a reasonable project … How inflationary is that? I do not think it will feed directly into the consumer price index per se’.”
The Premier said if the Howard Government was being honest in its criticism the Prime Minister should tell Queenslanders which of the current infrastructure projects currently underway he believes should be stopped.
“Our borrowings are about just one thing – delivering the vital infrastructure which will ensure Queensland continues to be the boom state,” Mr Beattie said.
“Most of our borrowings will be undertaken in future years and have no effect on today's underlying inflation,”
“It is rank hypocrisy for the Federal Government, which has seriously under invested in infrastructure, to attack the Queensland Government for planning and building the roads, rail facilities, hospitals and schools our community needs.
“Queensland has had seven successive years of cash surpluses and as we are good economic managers we have kept borrowing low even though we are delivering the biggest infrastructure program in our State’s history.
“Our State’s Triple A credit rating has been supported by careful economic management. Queensland has maintained its Triple A rating with Standard and Poor’s since 1992.
“That economic management last financial year delivered 95,200 new jobs in Queensland, more than a third of the nation’s total. In the year to June our economy grew at 5.5%, more than twice the national rate of 2.5%.
“The people of Australia have a right to expect better than old-fashioned finger pointing. The Howard Government should get on with governing and leave the politics until the election campaign.”
For more information: Premier’s Office – 07 3224 4500
“No doubt growing concern that home buyers are facing their fifth consecutive interest rate rise since the Prime Minister pledged to keep rates low is driving some of the silly claims being made today,” Mr Beattie said.
“On any test you care to mention the Queensland Government has demonstrated its commitment to successful and careful economic management.
“The Prime Minster doesn’t have to take my word for it, he should listen to the Governor of the Reserve Bank who said earlier this year: ‘It would be generally agreed by most people that infrastructure for investments of various kinds needs to be done…Balance sheets of governments in this country, by and large, are in very good shape. They will not have any trouble borrowing money from the lenders of the world for a reasonable project … How inflationary is that? I do not think it will feed directly into the consumer price index per se’.”
The Premier said if the Howard Government was being honest in its criticism the Prime Minister should tell Queenslanders which of the current infrastructure projects currently underway he believes should be stopped.
“Our borrowings are about just one thing – delivering the vital infrastructure which will ensure Queensland continues to be the boom state,” Mr Beattie said.
“Most of our borrowings will be undertaken in future years and have no effect on today's underlying inflation,”
“It is rank hypocrisy for the Federal Government, which has seriously under invested in infrastructure, to attack the Queensland Government for planning and building the roads, rail facilities, hospitals and schools our community needs.
“Queensland has had seven successive years of cash surpluses and as we are good economic managers we have kept borrowing low even though we are delivering the biggest infrastructure program in our State’s history.
“Our State’s Triple A credit rating has been supported by careful economic management. Queensland has maintained its Triple A rating with Standard and Poor’s since 1992.
“That economic management last financial year delivered 95,200 new jobs in Queensland, more than a third of the nation’s total. In the year to June our economy grew at 5.5%, more than twice the national rate of 2.5%.
“The people of Australia have a right to expect better than old-fashioned finger pointing. The Howard Government should get on with governing and leave the politics until the election campaign.”
For more information: Premier’s Office – 07 3224 4500