The Courier Mail’s Steve Wardill says clearly, COVID-19 has smashed Queensland and it’s going to take a long time for the state’s economy to recover.
His comment comes after Queensland Treasurer Cameron Dick handed down the state budget on Tuesday, confirming the state’s debt levels will balloon to almost $130 billion by 2024.
Mr Wardill observed the state budget was the “one thing missing” from the election campaign.
“Labor did promise, repeatedly, that its election promises would be funded totally by debt and they were going to add up to $4 million,” he told Sky News host Peta Credlin.
“The missing piece in the puzzle was how much the deficits were over the next four years and how much that would add up to debt.
“We know that today, we’re heading toward $130 billion of debt.”
Mr Wardill said the projected $130 billion debt the state was facing was significantly higher than the $95 billion debt the state was originally headed toward before the coronavirus hit.
“Clearly, COVID has smashed Queensland,” he said.
“Our revenue streams are really poor, particularly when it came to royalties.
“I think that’s going to take a long time for Queensland to recover.”
