The latest Suncorp-CCIQ Pulse Survey has revealed that business conditions and economic confidence in Queensland are now in freefall – just as the Palaszczuk Labor Government is focused on its internal integrity crisis.
The business conditions indicator was already at a record low in the previous quarterly Pulse Survey – but has now slumped by a further 11.4 points.
LNP Deputy Leader and Shadow Treasurer Tim Mander said that the March quarter survey should be a wake-up call for the crisis-hit Palaszczuk Labor Government.
“Businesses need a plan and a pathway to economic recovery,” Mr Mander said.
“Unfortunately, the Palaszczuk Labor Government is too distracted by its integrity scandals to provide the economic leadership we need.
“Labor gave Queensland three Treasurers in two days, but they did not give us a plan.
“Incredibly, this is the only government in Australia that has cancelled its 2020 Budget.
“The Palaszczuk Labor Government has no plan, no Budget and no integrity.
“Labor are more focused on saving their own jobs than protecting the jobs of ordinary Queenslanders.”
The Pulse Survey general business conditions fell by 11.4 points over the March quarter to 27.6, which is 17.9 points lower than the 10-year average of 45.5 and below the historic low recorded in the previous December 2019 quarter.
The ‘economic outlook’ indicator fell by 25.1points to 13.3, which is 32.7 points lower than the 10-year average of 45.9 and 14.8 points below the previous low in December 2008.
“The latest Pulse numbers are sobering, but Queensland’s economy was struggling long before coronavirus,” Mr Mander said.
“Under Jackie Trad Queensland had the worst average unemployment rate in the nation and the highest number of bankruptcies.
“Her successor Cameron Dick has proven to be as economically incompetent as Jackie Trad with his foolhardy foray into airline ownership over Virgin.
“Labor flatlined our economy before coronavirus and have no plan to get this state working again.
“The LNP has already released its Roadmap for Recovery and we have developed a long-term plan to build a stronger economy and create higher-paid jobs.
“The LNP will build the New Bradfield Scheme, invest in new roads and dams, provide cheaper electricity and give Queenslanders a no-new-tax guarantee.
“Only the LNP has a plan to get Queensland working again.”