Queensland to hit surplus despite falling coal prices
DECLINING coal prices will be blamed for a write down of around $1 billion in Queensland Government revenue today.
Queensland treasurer Tim Nicholls will announce the state's mid-year fiscal and economic review in Brisbane this morning.
Despite the falling revenue it is expected Mr Nicholls will announce the state is still on track to deliver a fiscal surplus next financial year.
The government will take a policy to lease government-owned for up to 99 years to the election which it says will be used to pay off debt.
However, Labor and unions have said the leasing program is no different from asset sales. Shadow treasurer Curtis Pitt questioned why the government could spend millions on advertising if the state was in such a poor financial condition.
"Somehow the Newman Government can find tens of millions of dollars of taxpayers' funds to run political ad campaigns, but says there is no money for investing in job-creating projects especially in regional Queensland," he said.
"The Premier claims the state is 'cash poor' yet wastes millions on propaganda and has committed taxpayers to spending $2.6 billion on its accommodation plans including a new but unnecessary Executive Building in the Brisbane CBD."
The review will be released at 11am on Thursday morning.