Labor must outline plan to secure Queensland’s economy

The CommSec State of the States Report released today highlights the need for the Labor Government to be upfront about its plans to grow the economy and create jobs.

Shadow Treasurer John-Paul Langbroek said Labor had failed to outline one new project aimed at driving economic growth or boosting employment since its election.

“Looking at the April quarter State of the States report, that’s exactly what’s needed,” Mr Langbroek said.

“Queensland’s strengths are still construction work and equipment investment, but the wind-down in major mining projects is undoubtedly having an impact.

“Queensland is also the second-worst performing state on unemployment according to CommSec and ABS figures released last week showed Queensland lost more jobs than any other state in March.

“It’s vital the government outlines its plans to help stimulate confidence, simply praying for jobs and growth isn’t enough.”

Mr Langbroek said Labor had inherited the second-fastest growing economy in the nation from the LNP.

“Queensland Treasury forecasts show that next year Queensland is expected to have the strongest economic growth of any state,” he said.

“When in Government the LNP had a plan to secure this growth. We moved to boost housing activity by reinstating the Principal Place of Concession, which Labor axed, saving up to $7,175 on the cost of the family home.

“We also introduced a $15,000 Great Start Grant for first homebuyers purchasing a newly-built or off the plan property.

“These measures have helped support strengthening housing activity across the state, with trend building approvals 15.6% higher over the year to February 2015.

“The Treasurer has been in the media today talking about the importance of the housing construction industry, yet all he’s done since coming to government is raise concerns over the future of the Great State Grant.

“This uncertainty does nothing to foster confidence, which is exactly what Queenslanders are crying out for.”