Media | State News

Business says Qld economy worse than in GFC

11th November 2019

Palaszczuk Labor Government savaged in latest CCIQ member survey

A new survey has claimed Queensland’s business conditions are now worse than they were in the Global Financial Crisis – and business leaders say Annastacia Palaszczuk is to blame.

The CCIQ business conditions index slumped by 6.4 points in the September quarter to 39.9 points, the lowest score ever recorded since the index began in 2007.

Confidence in the state’s economic outlook also tumbled by 7.2 points to just 36.4 points – the lowest score since Queensland’s economy was rocked by the GFC in March 2009.

Responses to the survey were scathing over the impact of Labor’s infrastructure cuts, new taxes and red-tape, as well as its campaigns against the Adani and New Hope resource companies.

LNP Deputy Leader and Shadow Treasurer Tim Mander said the survey was further proof that the Palaszczuk Labor Government is destroying jobs across the state.

“Queensland’s business people have delivered a devastating verdict on the Palaszczuk Labor Government,” Mr Mander said.

“They have had enough of Labor’s nine new taxes, red-tape and cuts to infrastructure.

“Queensland already has the highest unemployment rate in the nation and business fears the economy will only get worse under Annastacia Palaszczuk.”

The report also found:

  • Over two-thirds of businesses (70%) suffered falling or static revenue over the quarter.
  • Almost half of businesses (49%) saw profits fall over the quarter.
  • Almost half of businesses (48%) plan to shut early on Christmas Eve because of Labor’s decision to introduce a half-day public holiday.

The report states that the Palaszczuk Labor Government’s dire performance was ‘a key thematic that emerged in the September quarter survey’.

“The views of business people matter because they are the ones who create jobs,” Mr Mander said.

“Businesses know Labor is only working for itself instead of working for Queensland.

“Unlike Labor, the LNP has a plan to create jobs and we’re taking that plan to the next election.

“The LNP will create jobs by building new roads and dams, cutting electricity bills and giving Queenslanders a no-new-taxes guarantee.”