Rebuilding Queensland's Economy
Debt is Lower Under Labor
The Palaszczuk Government remains committed to reducing the level of General Government Sector debt in Queensland.
Thanks to our Debt Action Plan, General Government Sector debt is expected to be almost $10 billion lower than the former government's 2014-15 Budget projection.
By managing the economy responsibly, Labor will deliver a surplus for three consecutive years with the 2016/17 State Budget delivering the largest surplus in a decade.
However, a responsible approach to debt is only important if it delivers results for Queensland.
With a lower unemployment rate, strong growth and a pipeline of infrastructure investment, it is clear that Queensland is on the right track.
Unemployment is Going Down
Job creation is the Queensland Government's number one priority.
Whether it's with the $2 billion State Infrastructure Fund or with our economically responsible policies, the Palaszczuk Government is focused on creating more jobs where Queensland needs them.
We also want to make it easier for people to access and qualify for employment while also creating the right economic conditions for private business to take them on.
- The Back to Work regional employment package has already directly assisted 1500 disadvantaged Queenslanders into employment
- By reinstating Skilling Queenslanders for Work, we are providing training to people who are currently under-utilised or under-employed
- Delivered a State Infrastructure Plan that provides certainty to the Private Sector while also encouraging partnerships
While we are working hard to create jobs now, we also need to create the knowledge-based jobs of the future.
Through our Advance Queensland initiatives, we want to drive innovation and become an international destination for investment.
By positioning Queensland as a natural home of collaboration between entrepreneurs, industry, universities and government, we can turn great ideas into jobs.
We want to see advancement and investment in major industries like Advanced Manufacturing, Aerospace, Biofutures and Biomedical & Life Sciences.
These investments not only create jobs but they also allow us to make major progressions in critical areas like medical research.
Growing faster than any other state
Queensland is forecast to have the strongest economic growth in the country from 2016 through to 2025-26.
Agribusiness, education and tourism are booming with whole new industries being created in genomics and biofuels.
Queensland's exports have also now reach a record $52 billion. That's an increase of $8 billion since 2014.
What this shows is that Queensland’s economic fundamentals are strong, the outlook for growth is good, and that our economic plan for Queensland is working.
However, the reality is that the Queensland economy is still transitioning from a once-in-a-lifetime resources construction boom and in our large and varied state, there are some areas that are doing much better than others out of that transition.
That's why we have specifically focused programs creating jobs and opportunities in Queensland's regions right now.