Queensland Treasurer David Janetzki has revealed the state is in a dire financial situation with debt set to reach $40,000 per person within three years, making it the highest in the country per capita.The government is under pressure to keep its election promise of lowering debt without making cuts to services.Debt is forecast to balloon to $217.8 billion by the 27-28 financial year, which is almost $40,000 for every Queensland man, woman and child.
Queensland Treasurer David Janetzki has revealed the state is in a dire financial situation. (9News)Capital project costs are set to rise by $22.6 billion over the next three years due to blowouts in health projects, transport developments, as well as energy, water and port projects.The government accused Labor of hiding the true state of Queensland's books throughout its decade in power and failing to allocate money for promised services. The treasurer warned Queensland's AA+ credit rating is likely to be downgraded, meaning any money the government borrows will cost taxpayers more in higher interest rates.Deputy Opposition Leader and Treasurer Cameron Dick labelled the figures unreliable, saying it was the government paving the way for the LNP to break its election promises.The treasurer called today's budget update a line in the sand as the government looks to get the state back in the black.The government says it will take a disciplined approach to reigning in expenses.
