State’s mini-Budget plan revealed

The State Government will release its economic update next Monday, with the Treasurer and Premier expected to face a parliamentary grilling four days later.

Delivery of the Queensland Budget was cancelled this year due to the COVID-19 pandemic and the economic update will be delivered instead, just eight weeks before Queenslanders are due to vote.

Premier Annastacia Palaszczuk and Treasurer Cameron Dick will take part in a mini-Budget estimates session on Friday week to take questions from Government and Opposition MPs on the update.

Mr Dick has already revealed Queensland's debt figure will reach $100.7 billion by June 2020, up from the $83.8 billion predicted in December, with half of that on the books of government-owned corporations.

The 2019-20 year ended with a $5.9 billion deficit instead of the $151 million surplus predicted in the Mid-Year Fiscal and Economic Review, and GST receipts have fallen by $2.5 billion over two years.

That's come as Queensland has seen a catastrophic fall in revenue of at least $6.5 billion over 2019-20 and 2020-21.

At the same time, it's spent $6 billion on COVID-19 health and economic initiatives.


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