Killing the golden goose
Perfect timing for a carbon tax and mining super profits tax! /sarc
And after all that, boy oh boy will Queensland Premier, the LNP’s Campbell Newman be unpopular. TBH, I think he’s going to far with all his cuts and stuff.
His latest is raising state mining royalties by 50% to the tune of an extra $1.6 bil.
OK, so he has to raise revenue (and slash 14,000 public sector jobs) to deal with the disastrous $90 bil odd debt Labor left QLD in, and thus he really is in between a rock and a hard place, and sure, he has time before the next election, but one suspects a lot of people who voted for him will be quite grumpy indeed.
Swan will blame Newman. Newman will blame Swan 🙄
The editorial in the Australian:
THERE should be no surprise if the Newman government’s first state budget was tough. Treasurer Tim Nicholls must have known there could be no half-measures if he is to restore the once-prosperous state’s financial position. He told Queenslanders: “we trust and hope neither this government, nor any other government will need to undertake such a difficult task of such magnitude again.” After years of fiscal ill-discipline in other jurisdictions, we would not be too sure.
A word of warning? Tony Abbott winning the next federal election isn’t even going to be half the battle. Our gross national debt will have gone up more than $100 bil by then.