The LNP Government’s Strong Choices final plan could generate 33,600 new jobs and an additional $8.1 billion in gross state product, new modelling shows.
Treasurer Tim Nicholls said the modelling from the independent officers of Queensland Treasury revealed more detailed economic benefits of the Government’s plan for reducing debt, investing in infrastructure and providing cost of living relief.
“Treasury modelling shows the measures we are proposing could directly support up to 33,600 new jobs over the period from 2015-16 to 2027-28,” Mr Nicholls said.
“Our $8.6 billion series of infrastructure investment funds would generate 25,000 new jobs and our proposed $3.4 billion cost of living fund would support a further 8,600 jobs.
“The modelling also indicates our plan could support a further 21,000 indirect jobs.”
Mr Nicholls said the additional expenditure could add $8.1 billion in gross state product.
“The impact of the increased expenditure is equivalent to a once off 0.4% point contribution to economic growth,” he said.
“Under the LNP Government, Queensland is set to once again take the mantle as Australia’s fastest growing state economy.
“This plan has the potential to provide a significant boost to the economic growth this state is already experiencing, while also creating tens of thousands of new jobs for Queenslanders.”
Mr Nicholls said the Government remained steadfastly committed to taking the Strong Choices final plan to voters at the next state election.
“We are being open and upfront with the people of Queensland about our disciplined and methodical plan for securing Queensland’s finances,” he said.
“By reducing our debt we can free up funds to create jobs and build the infrastructure our growing state needs.
“We can also unlock further funds to drive downward pressure on cost of living, as evidenced by our Strong Choices Electricity Price Relief initiative which would save the average Queensland household $577 over five years.”
Source: News Release, Treasurer and Minister for Trade The Honourable Tim Nicholls, October 16, 2014